DOCUMENT_AND_ENTITY_INFORMATIO
DOCUMENT AND ENTITY INFORMATION | 9 Months Ended | |
Sep. 30, 2014 | Oct. 24, 2014 | |
Entity Information [Line Items] | ' | ' |
Entity Registrant Name | 'DICE HOLDINGS, INC. | ' |
Entity Central Index Key | '0001393883 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Sep-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Amendment Flag | 'false | ' |
Entity Common Stock, Shares Outstanding | ' | 53,148,070 |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current assets | ' | ' |
Cash and cash equivalents | $27,018 | $39,351 |
Accounts receivable, net of allowance for doubtful accounts of $3,141 and $2,719 | 40,022 | 37,760 |
Deferred income taxes—current | 2,811 | 1,399 |
Income taxes receivable | 3,310 | 2,399 |
Prepaid and other current assets | 4,159 | 3,739 |
Total current assets | 77,320 | 84,648 |
Fixed assets, net | 16,290 | 18,612 |
Acquired intangible assets, net | 85,936 | 84,905 |
Goodwill | 243,198 | 230,190 |
Deferred financing costs, net of accumulated amortization of $656 and $378 | 1,407 | 1,685 |
Deferred income taxes--non-current | 1,235 | 0 |
Other assets | 874 | 601 |
Total assets | 426,260 | 420,641 |
Current liabilities | ' | ' |
Accounts payable and accrued expenses | 27,300 | 27,468 |
Deferred revenue | 81,906 | 77,394 |
Current portion of acquisition related contingencies | 9,040 | 5,751 |
Current portion of long-term debt | 2,500 | 2,500 |
Deferred income taxes—current | 110 | 123 |
Income taxes payable | 1,186 | 400 |
Total current liabilities | 122,042 | 113,636 |
Long-term debt | 110,625 | 116,500 |
Deferred income taxes—non-current | 14,901 | 13,641 |
Accrual for unrecognized tax benefits | 3,511 | 2,618 |
Acquisition related contingencies | 0 | 4,042 |
Other long-term liabilities | 3,013 | 2,392 |
Total liabilities | 254,092 | 252,829 |
Commitments and contingencies (Note 7) | ' | ' |
Stockholders' equity | ' | ' |
Convertible preferred stock, $.01 par value, authorized 20,000 shares; no shares issued and outstanding | 0 | 0 |
Common stock, $.01 par value, authorized 240,000; issued 76,132 and 73,414 shares, respectively; outstanding: 53,591 and 54,634 shares, respectively | 761 | 734 |
Additional paid-in capital | 323,868 | 309,087 |
Accumulated other comprehensive loss | -9,577 | -6,114 |
Accumulated earnings | 53,928 | 32,832 |
Treasury stock, 22,541 and 18,780 shares, respectively | -196,812 | -168,727 |
Total stockholders’ equity | 172,168 | 167,812 |
Total liabilities and stockholders’ equity | $426,260 | $420,641 |
CONSOLIDATED_BALANCE_SHEETS_PA
CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Current assets | ' | ' |
Allowance for doubtful accounts | $3,141 | $2,719 |
Accumulated amortization | $656 | $378 |
Stockholders' equity | ' | ' |
Convertible preferred stock, par value | $0.01 | $0.01 |
Convertible preferred stock, shares authorized | 20,000,000 | 20,000,000 |
Convertible preferred, shares outstanding | 0 | 0 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 240,000,000 | 240,000,000 |
Common stock, shares issued | 76,132,000 | 73,414,000 |
Common stock, shares outstanding | 53,591,000 | 54,634,000 |
Treasury stock, shares | 22,541,000 | 18,780,000 |
CONSOLIDATED_STATEMENTS_OF_OPE
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Revenues | $67,615 | $52,616 | $194,849 | $155,064 |
Operating expenses: | ' | ' | ' | ' |
Cost of revenues | 9,418 | 6,099 | 27,803 | 16,853 |
Product development | 6,487 | 5,597 | 19,254 | 16,253 |
Sales and marketing | 20,746 | 16,601 | 60,032 | 50,106 |
General and administrative | 10,760 | 8,534 | 32,131 | 25,040 |
Depreciation | 2,930 | 2,011 | 8,647 | 5,377 |
Amortization of intangible assets | 3,798 | 2,208 | 12,552 | 5,617 |
Change in acquisition related contingencies | 44 | 50 | 134 | 146 |
Total operating expenses | 54,183 | 41,100 | 160,553 | 119,392 |
Operating income | 13,432 | 11,516 | 34,296 | 35,672 |
Interest expense | -927 | -378 | -2,875 | -1,097 |
Other income (expense) | 8 | 5 | -129 | 261 |
Income before income taxes | 12,513 | 11,143 | 31,292 | 34,836 |
Income tax expense | 3,020 | 4,085 | 10,196 | 12,730 |
Net income | $9,493 | $7,058 | $21,096 | $22,106 |
Basic earnings per share (in dollars per share) | $0.18 | $0.12 | $0.40 | $0.39 |
Diluted earnings per share (in dollars per share) | $0.18 | $0.12 | $0.39 | $0.37 |
Weighted average basic shares outstanding | 52,089 | 56,606 | 52,486 | 57,324 |
Weighted average diluted shares outstanding | 54,106 | 59,505 | 54,545 | 60,497 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Net income | $9,493 | $7,058 | $21,096 | $22,106 |
Foreign currency translation adjustment | -3,759 | 4,413 | -3,463 | -635 |
Unrealized losses on investments | 0 | 0 | 0 | -9 |
Total other comprehensive income (loss) | -3,759 | 4,413 | -3,463 | -644 |
Comprehensive income | $5,734 | $11,471 | $17,633 | $21,462 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Cash flows from operating activities: | ' | ' |
Net income | $21,096 | $22,106 |
Adjustments to reconcile net income to net cash flows from operating activities: | ' | ' |
Depreciation | 8,647 | 5,377 |
Amortization of intangible assets | 12,552 | 5,617 |
Deferred income taxes | -4,317 | -1,841 |
Amortization of deferred financing costs | 278 | 181 |
Stock based compensation | 5,886 | 6,263 |
Change in acquisition related contingencies | 134 | 146 |
Change in accrual for unrecognized tax benefits | 893 | -126 |
Changes in operating assets and liabilities, net of the effects of acquisitions: | ' | ' |
Accounts receivable | -232 | 5,263 |
Prepaid expense and other assets | -446 | 321 |
Accounts payable and accrued liabilities | -16 | 2,681 |
Income taxes receivable/payable | -956 | -4,292 |
Deferred revenue | 3,581 | -916 |
Other, net | 544 | 4 |
Net cash flows from operating activities | 47,644 | 40,784 |
Cash flows from investing activities: | ' | ' |
Payments for acquisitions, net of cash acquired | -27,001 | -12,259 |
Purchases of fixed assets | -6,784 | -8,160 |
Purchases of investments | 0 | -3 |
Maturities and sales of investments | 0 | 2,194 |
Net cash flows from investing activities | -33,785 | -18,228 |
Cash flows from financing activities: | ' | ' |
Payments on long-term debt | -23,875 | -20,000 |
Proceeds from long-term debt | 18,000 | 34,000 |
Payments under stock repurchase plan | -26,909 | -35,046 |
Payment of acquisition related contingencies | -824 | 0 |
Proceeds from stock option exercises | 7,974 | 3,149 |
Purchase of treasury stock related to vested restricted stock | -1,223 | -995 |
Excess tax benefit over book expense from stock based compensation | 1,504 | 2,346 |
Net cash flows from financing activities | -25,353 | -16,546 |
Effect of exchange rate changes | -839 | -1,326 |
Net change in cash and cash equivalents for the period | -12,333 | 4,684 |
Cash and cash equivalents, beginning of period | 39,351 | 40,013 |
Cash and cash equivalents, end of period | $27,018 | $44,697 |
BASIS_OF_PRESENTATION
BASIS OF PRESENTATION | 9 Months Ended |
Sep. 30, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Organization and Principal Activities | ' |
BASIS OF PRESENTATION | |
The accompanying interim unaudited condensed consolidated financial statements of Dice Holdings, Inc. (“DHI” or the “Company”) have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and disclosures normally included in annual audited consolidated financial statements prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) have been omitted and condensed pursuant to such rules and regulations. In the opinion of the Company’s management, all adjustments (consisting of only normal and recurring accruals) have been made to present fairly the financial position, results of operations and cash flows of the Company for the periods presented. Although the Company believes that the disclosures are adequate to make the information presented not misleading, these financial statements should be read in conjunction with the Company’s annual audited consolidated financial statements as of and for the year ended December 31, 2013 included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013 (the “Annual Report on Form 10-K”). Operating results for the nine month period ended September 30, 2014 are not necessarily indicative of the results to be achieved for the full year. | |
Preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the period. Management believes the most complex and sensitive judgments, because of their significance to the condensed consolidated financial statements, result primarily from the need to make estimates about the effects of matters that are inherently uncertain. Actual results could differ materially from management’s estimates reported in the condensed consolidated financial statements and footnotes thereto. |
NEW_ACCOUNTING_STANDARDS_Notes
NEW ACCOUNTING STANDARDS (Notes) | 9 Months Ended |
Sep. 30, 2014 | |
NEW ACCOUNTING STANDARDS [Abstract] | ' |
New Accounting Pronouncements and Changes in Accounting Principles | ' |
NEW ACCOUNTING STANDARDS | |
In May 2014, the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2014-09, Revenue from Contracts with Customers. The new standard outlines the principles an entity must apply to measure and recognize revenue and the related cash flows it expects to be entitled for the transfer of promised goods or services to customers. The updated standard will replace most existing revenue recognition guidance in U.S. GAAP. The updated standard becomes effective for reporting periods (interim and annual) beginning after December 15, 2016, with no early adoption permitted. The new standard can be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of the change recognized at the date of the initial application. The Company is assessing the potential impact of the new standard on its consolidated financial statements and has not yet selected a transition method. |
ACQUISITIONS
ACQUISITIONS | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Business Combinations [Abstract] | ' | |||||||||||||||
Acquisitions | ' | |||||||||||||||
ACQUISITIONS | ||||||||||||||||
OilCareers—In March 2014, the Company acquired from the Daily Mail and General Trust PLC all of the issued and outstanding shares of OilCareers Limited, OilCareers.com, Inc. and OilCareers Pty Limited (collectively, “OilCareers”), the leading recruitment site for oil and gas professionals in Europe. The purchase price consisted of $26.1 million, paid in cash at closing, and $0.3 million paid in the second quarter of 2014 to settle certain working capital requirements. OilCareers was acquired in March 2014; and the valuation of assets and liabilities was completed during the second quarter of 2014. The OilCareers acquisition is not deemed significant to the Company’s financial results, thus limited disclosures are presented herein. | ||||||||||||||||
The final valuation of assets and liabilities recognized as of the acquisition date for OilCareers include (in thousands): | ||||||||||||||||
OilCareers Acquisition | ||||||||||||||||
Assets: | ||||||||||||||||
Accounts receivable | $ | 1,082 | ||||||||||||||
Acquired intangible assets | 14,508 | |||||||||||||||
Goodwill | 15,078 | |||||||||||||||
Fixed assets | 98 | |||||||||||||||
Other assets | 196 | |||||||||||||||
Assets acquired | 30,962 | |||||||||||||||
Liabilities: | ||||||||||||||||
Accounts payable and accrued expenses | $ | 567 | ||||||||||||||
Deferred revenue | 1,081 | |||||||||||||||
Deferred income taxes | 2,916 | |||||||||||||||
Liabilities assumed | 4,564 | |||||||||||||||
Net Assets Acquired | $ | 26,398 | ||||||||||||||
Goodwill results from the expansion of the Company’s market share in the Energy vertical, from intangible assets that do not qualify for separate recognition, including an assembled workforce and site traffic, and from expected synergies from combining operations of OilCareers into the Company’s existing operations. The amount of goodwill from the OilCareers acquisition expected to be deductible for tax purposes is $1.2 million. | ||||||||||||||||
onTargetjobs—In November 2013, the Company acquired all of the issued and outstanding shares of onTargetjobs, Inc., a leading vertical recruiting service in healthcare and hospitality. The purchase price consisted of $46.3 million, net of cash acquired. The Company borrowed $54.0 million under the Credit Agreement to fund this acquisition. The acquisition resulted in recording intangible assets of $27.6 million and goodwill of $23.8 million. The assets acquired and liabilities assumed were recorded at fair value as of the acquisition date. The acquired accounts receivable of $6.3 million were recorded at fair value of $6.3 million. The Company incurred transaction costs related to the acquisition of $1.2 million, which were included in General and Administrative expense on the Consolidated Statements of Operations in the year ended December 31, 2013. | ||||||||||||||||
The IT Job Board—In July 2013, the Company expanded its online tech recruiting business to Europe by acquiring all of the issued and outstanding shares of JobBoard Enterprises Limited, an online recruitment company in the technology industry, that operates The IT Job Board business (“The IT Job Board”). The purchase price consisted of £8.0 million ($12.2 million), net of cash acquired, plus deferred payments totaling £3.0 million ($4.6 million) in the aggregate, payable upon the achievement of certain operating and financial goals ending in 2014. The Company borrowed $15.0 million under the Credit Agreement to fund this acquisition. The acquisition resulted in recording intangible assets of $10.8 million and goodwill of $9.1 million. The assets acquired and liabilities assumed were recorded at fair value as of the acquisition date. The acquired accounts receivable of $1.2 million were recorded at fair value of $1.2 million. The IT Job Board acquisition is not deemed significant to the Company’s financial results, thus limited disclosures are presented herein. | ||||||||||||||||
The assets and liabilities recognized as of the acquisition dates for onTargetjobs and The IT Job Board include (in thousands): | ||||||||||||||||
onTargetjobs and The IT Job Board Acquisitions | ||||||||||||||||
Assets: | ||||||||||||||||
Cash and cash equivalents | $ | 8,200 | ||||||||||||||
Accounts receivable | 7,558 | |||||||||||||||
Acquired intangible assets | 38,410 | |||||||||||||||
Goodwill | 32,935 | |||||||||||||||
Fixed assets | 5,688 | |||||||||||||||
Other assets | 1,195 | |||||||||||||||
Assets acquired | 93,986 | |||||||||||||||
Liabilities: | ||||||||||||||||
Accounts payable and accrued expenses | $ | 9,577 | ||||||||||||||
Deferred revenue | 5,465 | |||||||||||||||
Deferred income taxes | 7,160 | |||||||||||||||
Fair value of contingent consideration | 4,474 | |||||||||||||||
Liabilities assumed | 26,676 | |||||||||||||||
Net Assets Acquired | $ | 67,310 | ||||||||||||||
Goodwill results from the entrance or expansion of the Company’s market share in the Healthcare, Hospitality and Tech & Clearance verticals, from intangible assets that do not qualify for separate recognition, including an assembled workforce and site traffic, and from expected synergies from combining operations of The IT Job Board and onTargetjobs into the Company’s existing operations. The amount of goodwill from The IT Job Board and onTargetjobs acquisitions expected to be deductible for tax purposes is $3.9 million. | ||||||||||||||||
In October 2014 and 2013, deferred purchase price payments of $5.0 million each were made related to the WorkDigital acquisition, finalizing all deferred purchase price payments for WorkDigital. | ||||||||||||||||
Pro forma Information—The following pro forma consolidated results of operations are presented as if the acquisition of onTargetjobs was completed as of January 1, 2013: | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Revenues | $ | 67,615 | $ | 62,539 | $ | 194,849 | $ | 184,446 | ||||||||
Net income | 9,493 | 7,417 | 21,096 | 22,391 | ||||||||||||
Basic earnings per share | 0.18 | 0.13 | 0.4 | 0.39 | ||||||||||||
The pro forma financial information represents the combined historical operating results of the Company and onTargetjobs with adjustments for purchase accounting and is not necessarily indicative of the results of operations that would have been achieved if the acquisition had taken place at the beginning of the periods presented. The pro forma adjustments included adjustments for interest on borrowings, amortization of acquired intangible assets and the related income tax impacts of such adjustments. The Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2014 include revenues from the onTargetjobs acquisition of $10.2 million and $28.5 million, respectively, and operating losses of $0.2 million and $2.6 million, respectively. The operating losses were primarily attributable to amortization of intangible assets of $1.0 million and $4.9 million for the three and nine months ended September 30, 2014, respectively. | ||||||||||||||||
The pro forma financial information does not include adjustments for The IT Job Board or OilCareers, as they are not individually or collectively material to the Company’s results. |
FAIR_VALUE_MEASUREMENTS
FAIR VALUE MEASUREMENTS | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Fair Value Measurements | ' | |||||||||||||||
FAIR VALUE MEASUREMENTS | ||||||||||||||||
The FASB ASC topic on Fair Value Measurements and Disclosures defines fair value, establishes a framework for measuring fair value and requires certain disclosures for each major asset and liability category measured at fair value on either a recurring or nonrecurring basis. As a basis for considering assumptions, a three-tier fair value hierarchy is used, which prioritizes the inputs used in measuring fair value as follows: | ||||||||||||||||
• | Level 1 – Quoted prices for identical instruments in active markets. | |||||||||||||||
• | Level 2 – Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-derived valuations, in which all significant inputs are observable in active markets. | |||||||||||||||
• | Level 3 – Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. | |||||||||||||||
Money market funds are included in cash and cash equivalents on the Condensed Consolidated Balance Sheets. The money market funds are valued using quoted prices in the market. The carrying amounts reported in the Condensed Consolidated Balance Sheets for cash and cash equivalents, accounts receivable, accounts payable and accrued expenses, and long-term debt approximate their fair values. | ||||||||||||||||
The Company has obligations, to be paid in cash, related to its acquisitions if certain future operating and financial goals are met. See Note 3 “Acquisitions.” The fair value of this contingent consideration is determined using an expected present value technique. Expected cash flows are determined using the probability weighted-average of possible outcomes that would occur should delivery of certain product enhancements occur. There is no market data available to use in valuing the contingent consideration; therefore, the Company developed its own assumptions related to the expected future delivery of product enhancements to estimate the fair value of these liabilities. A 2% discount rate is used to fair value the expected payments. The liabilities for the contingent consideration were established at the time of acquisition and are evaluated at each reporting period. The expense is included in Change in Acquisition Related Contingencies on the Condensed Consolidated Statements of Operations. | ||||||||||||||||
The assets and liabilities measured at fair value on a recurring basis are as follows (in thousands): | ||||||||||||||||
As of September 30, 2014 | ||||||||||||||||
Fair Value Measurements Using | Total | |||||||||||||||
Quoted Prices in | Significant Other | Significant | ||||||||||||||
Active Markets for | Observable | Unobservable | ||||||||||||||
Identical Assets | Inputs | Inputs | ||||||||||||||
(Level 1) | (Level 2) | (Level 3) | ||||||||||||||
Money market funds | $ | 361 | $ | — | $ | — | $ | 361 | ||||||||
Contingent consideration to be paid in cash for the acquisitions | — | — | 9,040 | 9,040 | ||||||||||||
As of December 31, 2013 | ||||||||||||||||
Fair Value Measurements Using | Total | |||||||||||||||
Quoted Prices in | Significant Other | Significant | ||||||||||||||
Active Markets for | Observable | Unobservable | ||||||||||||||
Identical Assets | Inputs | Inputs | ||||||||||||||
(Level 1) | (Level 2) | (Level 3) | ||||||||||||||
Money market funds | $ | 15,610 | $ | — | $ | — | $ | 15,610 | ||||||||
Contingent consideration to be paid in cash for the acquisitions | — | — | 9,793 | 9,793 | ||||||||||||
Reconciliations of liabilities measured and carried at fair value on a recurring basis with the use of significant unobservable inputs (Level 3) are as follows (in thousands): | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Contingent consideration for acquisitions | ||||||||||||||||
Balance at beginning of period | $ | 9,195 | $ | 9,852 | $ | 9,793 | $ | 9,756 | ||||||||
Additions for acquisitions | — | 4,738 | — | 4,738 | ||||||||||||
Cash payments | — | — | (824 | ) | — | |||||||||||
Change in estimates included in earnings | 44 | 50 | 134 | 146 | ||||||||||||
Change due to foreign exchange rate changes | (199 | ) | — | (63 | ) | — | ||||||||||
Balance at end of period | $ | 9,040 | $ | 14,640 | $ | 9,040 | $ | 14,640 | ||||||||
Certain assets and liabilities are measured at fair value on a non-recurring basis and therefore are not included in the table above. These assets include goodwill and intangible assets which result as acquisitions occur. Items valued using such internally generated valuation techniques are classified according to the lowest level input or value driver that is significant to the valuation. Thus, an item may be classified in Level 3 even though there may be some significant inputs that are readily observable. Such instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances, for example, when there is evidence of impairment. | ||||||||||||||||
Goodwill—The Company determines whether the carrying value of recorded goodwill is impaired for each reporting unit on an annual basis or more frequently if indicators of potential impairment exist for each reporting unit. The annual impairment test for the goodwill is performed on the following reporting units: | ||||||||||||||||
Reporting Unit | Annual Impairment Test Date | Impairment Indicated | ||||||||||||||
Tech & Clearance | 31-Aug | No | ||||||||||||||
Energy | 31-Oct | No | ||||||||||||||
Finance | 31-Oct | No | ||||||||||||||
Slashdot Media | 31-Oct | Yes - Q4 2013 | ||||||||||||||
Health Callings | 31-Oct | Yes - Q4 2013 | ||||||||||||||
Work Digital | 31-Oct | No | ||||||||||||||
Goodwill resulting from the 2013 acquisitions of The IT Job Board and onTargetjobs and the 2014 acquisition of OilCareers will be tested annually for impairment beginning on October 31, 2014. In testing goodwill for impairment, a qualitative assessment can be performed and if it is determined that the fair value of the reporting unit is more likely than not less than the carrying amount, the two step impairment test is required. The first step of the impairment review process compares the fair value of the reporting unit in which the goodwill resides to the carrying value of that reporting unit. The second step measures the amount of impairment loss, if any, by comparing the implied fair value of the reporting unit goodwill with its carrying amount. The determination of whether or not goodwill has become impaired involves a significant level of judgment in the assumptions underlying the approach used to determine the value of the reporting units. Fair values of each reporting unit are determined either by using a discounted cash flow methodology or by using a combination of a discounted cash flow methodology and a market comparable method. The discounted cash flow methodology is based on projections of the amounts and timing of future revenues and cash flows, assumed discount rates and other assumptions as deemed appropriate. Factors such as historical performance, anticipated market conditions, operating expense trends and capital expenditure requirements are considered. Additionally, the discounted cash flows analysis takes into consideration cash expenditures for product development, other technological updates and advancements to the websites and investments to improve the candidate databases. The market comparable method indicates the fair value of a business by comparing it to publicly traded companies in similar lines of business or to comparable transactions or assets. Considerations for factors such as size, growth, profitability, risk and return on investment are analyzed and compared to the comparable businesses and adjustments are made. A market value of invested capital of the publicly traded companies is calculated and then applied to the entity’s operating results to arrive at an estimate of value. | ||||||||||||||||
Indefinite-lived Intangible Assets—The indefinite-lived acquired intangible assets include the Dice trademarks and brand name. The Company determines whether the carrying value of recorded indefinite-lived acquired intangible assets is impaired on an annual basis or more frequently if indicators of potential impairment exist. The impairment test is performed annually as of August 31 and last resulted in no impairment. The impairment review process compares the fair value of the indefinite-lived acquired intangible assets to its carrying value. If the carrying value exceeds the fair value, an impairment loss is recorded. The determination of whether or not indefinite-lived acquired intangible assets have become impaired involves a significant level of judgment in the assumptions underlying the approach used to determine the value of the indefinite-lived acquired intangible assets. Fair values are determined using a profit allocation methodology, which estimates the value of the trademark and brand name by capitalizing the profits saved because the Company owns the asset. Factors such as historical performance, anticipated market conditions, operating expense trends and capital expenditure requirements are considered. Changes in Company strategy and/or market conditions could significantly impact these judgments and require adjustments to recorded amounts of intangible assets. |
ACQUIRED_INTANGIBLE_ASSETS_NET
ACQUIRED INTANGIBLE ASSETS, NET | 9 Months Ended | |||||||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||||||
Intangible Assets, Net (Excluding Goodwill) [Abstract] | ' | |||||||||||||||||||||||||||||
Acquired Intangible Assets, Net | ' | |||||||||||||||||||||||||||||
ACQUIRED INTANGIBLE ASSETS, NET | ||||||||||||||||||||||||||||||
Below is a summary of the major acquired intangible assets and the weighted-average amortization period for the acquired identifiable intangible assets (in thousands): | ||||||||||||||||||||||||||||||
As of and for the Nine Months Ended September 30, 2014 | ||||||||||||||||||||||||||||||
Cost | Acquisitions | Total Cost | Accumulated | Foreign | Acquired | Weighted- | ||||||||||||||||||||||||
Amortization | Currency | Intangible | Average | |||||||||||||||||||||||||||
Translation | Assets, Net | Amortization | ||||||||||||||||||||||||||||
Adjustment | Period | |||||||||||||||||||||||||||||
Technology | $ | 23,654 | $ | 166 | $ | 23,820 | $ | (19,757 | ) | $ | (120 | ) | $ | 3,943 | 3.5 years | |||||||||||||||
Trademarks and brand names—Dice | 39,000 | — | 39,000 | — | — | 39,000 | Indefinite | |||||||||||||||||||||||
Trademarks and brand names—Other | 23,837 | 1,123 | 24,960 | (12,231 | ) | (696 | ) | 12,033 | 6.1 years | |||||||||||||||||||||
Customer lists | 54,932 | 9,403 | 64,335 | (41,363 | ) | (1,418 | ) | 21,554 | 5.5 years | |||||||||||||||||||||
Candidate and content database | 40,198 | 3,816 | 44,014 | (34,863 | ) | 255 | 9,406 | 2.7 years | ||||||||||||||||||||||
Order backlog | 2,718 | — | 2,718 | (2,718 | ) | — | — | 0.5 years | ||||||||||||||||||||||
Acquired intangible assets, net | $ | 184,339 | $ | 14,508 | $ | 198,847 | $ | (110,932 | ) | $ | (1,979 | ) | $ | 85,936 | ||||||||||||||||
As of and for the Year Ended December 31, 2013 | ||||||||||||||||||||||||||||||
Cost | Acquisitions | Total Cost | Accumulated | Foreign | Impairment | Acquired | Weighted- | |||||||||||||||||||||||
Amortization | Currency | Intangible | Average | |||||||||||||||||||||||||||
Translation | Assets, Net | Amortization | ||||||||||||||||||||||||||||
Adjustment | Period | |||||||||||||||||||||||||||||
Technology | $ | 21,000 | $ | 4,028 | $ | 25,028 | $ | (17,566 | ) | $ | (35 | ) | $ | (1,374 | ) | $ | 6,053 | 3.5 years | ||||||||||||
Trademarks and brand names—Dice | 39,000 | — | 39,000 | — | — | — | 39,000 | Indefinite | ||||||||||||||||||||||
Trademarks and brand names—Other | 19,115 | 6,651 | 25,766 | (10,541 | ) | (505 | ) | (1,929 | ) | 12,791 | 6.2 years | |||||||||||||||||||
Customer lists | 45,213 | 14,500 | 59,713 | (40,255 | ) | (840 | ) | (3,281 | ) | 15,337 | 5.3 years | |||||||||||||||||||
Candidate and content database | 30,341 | 10,513 | 40,854 | (30,615 | ) | 329 | (656 | ) | 9,912 | 2.8 years | ||||||||||||||||||||
Order backlog | — | 2,718 | 2,718 | (906 | ) | — | — | 1,812 | 0.5 years | |||||||||||||||||||||
Acquired intangible assets, net | $ | 154,669 | $ | 38,410 | $ | 193,079 | $ | (99,883 | ) | $ | (1,051 | ) | $ | (7,240 | ) | $ | 84,905 | |||||||||||||
OilCareers was acquired in March 2014 and the valuation of assets and liabilities was completed during the second quarter of 2014. Identifiable intangible assets for the OilCareers acquisition are included in the total cost as of September 30, 2014. The weighted-average amortization period for the technology, trademarks and brand names, customer lists and candidate and content database are 0.8 years, 5.0 years, 7.0 years and 2.0 years, respectively, related to the OilCareers acquisition. | ||||||||||||||||||||||||||||||
Identifiable intangible assets for The IT Job Board and onTargetjobs acquisitions are included in the total cost as of December 31, 2013. The weighted-average amortization period for the technology, trademarks and brand names, customer lists, candidate and content database and order backlog are 3.0 years, 6.9 years, 8.0 years, 2.8 years and 0.5 years, respectively, related to these acquisitions. | ||||||||||||||||||||||||||||||
During 2013, the long-lived assets of both Health Callings and Slashdot Media were tested for recoverability due to the downturn in the current and expected future financial performance of the reporting units. This process resulted in an impairment of unamortized intangible assets of $7.2 million at Slashdot Media as of December 31, 2013. | ||||||||||||||||||||||||||||||
Based on the carrying value of the acquired finite-lived intangible assets recorded as of September 30, 2014, and assuming no subsequent impairment of the underlying assets, the estimated future amortization expense is as follows (in thousands): | ||||||||||||||||||||||||||||||
October 1, 2014 through December 31, 2014 | $ | 3,780 | ||||||||||||||||||||||||||||
2015 | 13,825 | |||||||||||||||||||||||||||||
2016 | 8,259 | |||||||||||||||||||||||||||||
2017 | 5,101 | |||||||||||||||||||||||||||||
2018 | 4,545 | |||||||||||||||||||||||||||||
2019 and thereafter | 11,426 | |||||||||||||||||||||||||||||
Total | $ | 46,936 | ||||||||||||||||||||||||||||
INDEBTEDNESS
INDEBTEDNESS | 9 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Debt Disclosure [Abstract] | ' | |||||||
Indebtedness | ' | |||||||
INDEBTEDNESS | ||||||||
Credit Agreement—In October 2013, the Company, together with Dice Inc. and Dice Career Solutions, Inc. (collectively, the “Borrowers”) entered into a Credit Agreement (the “Credit Agreement”), which provides for a $50.0 million term loan facility and a revolving loan facility of $200.0 million, with both facilities maturing in October 2018. The Company borrowed $65.0 million under the new Credit Agreement to repay all outstanding indebtedness under the previously existing credit facility dated June 2012, terminating that facility. A portion of the proceeds was also used to pay certain costs associated with the Credit Agreement and for working capital purposes. | ||||||||
Borrowings under the Credit Agreement bear interest at the Company’s option, at a LIBOR rate or a base rate plus a margin. The margin ranges from 1.75% to 2.50% on LIBOR loans and 0.75% to 1.50% on base rate loans, determined by the Company’s most recent consolidated leverage ratio. The facility requires quarterly payments of $625,000 with the unpaid balance due at maturity and may be prepaid at any time without penalty. | ||||||||
The Credit Agreement contains various customary affirmative and negative covenants and also contains certain financial covenants, including a consolidated leverage ratio and a consolidated interest coverage ratio. Negative covenants include restrictions on incurring certain liens; making certain payments, such as stock repurchases and dividend payments; making certain investments; making certain acquisitions; and incurring additional indebtedness. Restricted payments are allowed under the Credit Agreement to the extent the consolidated leverage ratio, calculated on a pro forma basis, is equal to or less than 2.0 to 1.0, plus an additional $5.0 million of restricted payments. The Credit Agreement also provides that the payment of obligations may be accelerated upon the occurrence of customary events of default, including, but not limited to, non-payment, change of control, or insolvency. As of September 30, 2014, the Company was in compliance with all of the financial covenants under the Credit Agreement. | ||||||||
The obligations under the Credit Agreement are guaranteed by three of the Company’s wholly-owned subsidiaries, eFinancialCareers, Inc., Targeted Job Fairs, Inc., and Rigzone.com, Inc., and secured by substantially all of the assets of the Borrowers and the guarantors and stock pledges from certain of the Company’s foreign subsidiaries. | ||||||||
Debt issuance costs of $872,000 were incurred and are being amortized over the life of the loan. These costs are included in interest expense. Unamortized deferred financing costs from the previous credit facility of $878,000 will continue to be amortized over the life of the new Credit Agreement. | ||||||||
The amounts borrowed as of September 30, 2014 and December 31, 2013 are as follows (dollars in thousands): | ||||||||
September 30, | December 31, | |||||||
2014 | 2013 | |||||||
Amounts borrowed: | ||||||||
Term loan facility | $ | 48,125 | $ | 50,000 | ||||
Revolving credit facility | 65,000 | 69,000 | ||||||
Total borrowed | $ | 113,125 | $ | 119,000 | ||||
Available to be borrowed under revolving facility | $ | 135,000 | $ | 131,000 | ||||
Interest rates: | ||||||||
LIBOR rate loans: | ||||||||
Interest margin | 2 | % | 2 | % | ||||
Actual interest rates | 2.19 | % | 2.19 | % | ||||
Future maturities as of September 30, 2014 are as follows (in thousands): | ||||||||
October 1, 2014 through December 31, 2014 | $ | 625 | ||||||
2015 | 2,500 | |||||||
2016 | 5,000 | |||||||
2017 | 5,000 | |||||||
2018 | 100,000 | |||||||
Total minimum payments | $ | 113,125 | ||||||
Borrowings during the nine months ended September 30, 2014 were to fulfill temporary cash needs to fund operating activities. Borrowings during the year ended December 31, 2013 were to fund The IT Job Board acquisition, onTargetjobs acquisition, and stock repurchases. Scheduled payments to repay the term loan commenced in the first quarter of 2014. There are no scheduled amortization payments for the revolving loan facility of $200.0 million until maturity of the Credit Agreement in October 2018. |
COMMITMENTS_AND_CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 9 Months Ended | |||
Sep. 30, 2014 | ||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||
Commitments and Contingencies | ' | |||
COMMITMENTS AND CONTINGENCIES | ||||
Leases | ||||
The Company leases equipment and office space under operating leases expiring at various dates through December 2025. Future minimum lease payments under non-cancellable operating leases as of September 30, 2014 are as follows (in thousands): | ||||
October 1, 2014 through December 31, 2014 | $ | 1,311 | ||
2015 | 3,277 | |||
2016 | 2,836 | |||
2017 | 2,832 | |||
2018 | 2,520 | |||
2019 and thereafter | 9,208 | |||
Total minimum payments | $ | 21,984 | ||
Rent expense was $1.1 million and $3.0 million for the three and nine month periods ended September 30, 2014, respectively, and $0.9 million and $2.4 million for the three and nine month periods ended September 30, 2013, respectively, and is included in General and Administrative expense in the Condensed Consolidated Statements of Operations. | ||||
Litigation | ||||
The Company is subject to various claims from taxing authorities, lawsuits and other complaints arising in the ordinary course of business. The Company records provisions for losses when claims become probable and the amounts are reasonably estimable. Although the outcome of these legal matters cannot be determined, it is the opinion of management that the final resolution of these matters will not have a material effect on the Company’s financial condition, operations or liquidity. | ||||
Tax Contingencies | ||||
The Company operates in a number of tax jurisdictions and is subject to audits and reviews by various taxation authorities with respect to income, payroll, sales and use and other taxes and remittances. The Company may become subject to future tax assessments by various authorities for current or prior periods. The determination of the Company’s worldwide provision for taxes requires judgment and estimation. There are many transactions and calculations where the ultimate tax determination is uncertain. The Company has recorded certain provisions for tax estimates which management believes are reasonable. |
EQUITY_TRANSACTIONS
EQUITY TRANSACTIONS | 9 Months Ended | |||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||
Stockholders' Equity Note [Abstract] | ' | |||||||||||||||||
Equity Transactions Disclosure | ' | |||||||||||||||||
EQUITY TRANSACTIONS | ||||||||||||||||||
Stock Repurchase Plans—The Company’s Board of Directors approved a stock repurchase program that permits the Company to repurchase its common stock. The following table summarizes the Stock Repurchase Plans approved by the Board of Directors: | ||||||||||||||||||
Stock Repurchase Plan | ||||||||||||||||||
II | III | IV | ||||||||||||||||
Approval Date | Mar-12 | Jan-13 | Dec-13 | |||||||||||||||
Authorized Repurchase Amount of Common Stock | $65 million | $50 million | $50 million | |||||||||||||||
Effective Dates | March 2012 to March 2013 | April 2013 to December 2013 | December 2013 to present | |||||||||||||||
The Company is currently under Stock Repurchase Plan IV, which will expire no later than December 2014. Under each plan, management has discretion in determining the conditions under which shares may be purchased from time to time. | ||||||||||||||||||
During the quarter ended September 30, 2014, purchases of the Company’s common stock pursuant to Stock Repurchase Plan IV were as follows: | ||||||||||||||||||
Total Number of Shares Purchased | Average Price Paid per Share | Dollar Value of Shares Purchased | Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs | |||||||||||||||
1,056,207 | $ | 8.22 | $ | 8,677,152 | $ | 21,987,000 | ||||||||||||
Approximately $0.5 million and $0.6 million of share repurchases had not settled as of September 30, 2014 and December 31, 2013, respectively, and are included in accounts payable and accrued expenses in the accompanying Condensed Consolidated Balance Sheets. |
ACCUMULATED_OTHER_COMPREHENSIV
ACCUMULATED OTHER COMPREHENSIVE LOSS | 9 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | |||||||||||
Accumulated Other Comprehensive Income | ' | |||||||||||
ACCUMULATED OTHER COMPREHENSIVE LOSS | ||||||||||||
Accumulated other comprehensive loss, net consists of the following components, net of tax, (in thousands): | ||||||||||||
September 30, | December 31, | |||||||||||
2014 | 2013 | |||||||||||
Foreign currency translation adjustment | $ | (9,577 | ) | $ | (6,117 | ) | ||||||
Unrealized gains on investments, net of tax of $0 and $0 | — | 3 | ||||||||||
Total accumulated other comprehensive loss, net | $ | (9,577 | ) | $ | (6,114 | ) | ||||||
Changes in accumulated other comprehensive income (loss) during the three months ended September 30, 2014 are as follows (in thousands): | ||||||||||||
Foreign currency translation adjustment | Unrealized gains on investments | Total | ||||||||||
Beginning balance | $ | (5,821 | ) | $ | 3 | $ | (5,818 | ) | ||||
Other comprehensive loss before reclassifications | (3,759 | ) | — | (3,759 | ) | |||||||
Amounts reclassified from accumulated other comprehensive loss | — | — | — | |||||||||
Net current-period other comprehensive loss | (3,759 | ) | — | (3,759 | ) | |||||||
Ending balance | $ | (9,580 | ) | $ | 3 | $ | (9,577 | ) | ||||
Changes in accumulated other comprehensive income (loss) during the three months ended September 30, 2013 are as follows (in thousands): | ||||||||||||
Foreign currency translation adjustment | Unrealized gains (losses) on investments | Total | ||||||||||
Beginning balance | $ | (14,351 | ) | $ | — | $ | (14,351 | ) | ||||
Other comprehensive income before reclassifications | 4,413 | — | 4,413 | |||||||||
Amounts reclassified from accumulated other comprehensive loss | — | — | — | |||||||||
Net current-period other comprehensive income | 4,413 | — | 4,413 | |||||||||
Ending balance | $ | (9,938 | ) | $ | — | $ | (9,938 | ) | ||||
Changes in accumulated other comprehensive income (loss) during the nine months ended September 30, 2014 are as follows (in thousands): | ||||||||||||
Foreign currency translation adjustment | Unrealized gains on investments | Total | ||||||||||
Beginning balance | $ | (6,117 | ) | $ | 3 | $ | (6,114 | ) | ||||
Other comprehensive loss before reclassifications | (3,463 | ) | — | (3,463 | ) | |||||||
Amounts reclassified from accumulated other comprehensive loss | — | — | — | |||||||||
Net current-period other comprehensive loss | (3,463 | ) | — | (3,463 | ) | |||||||
Ending balance | $ | (9,580 | ) | $ | 3 | $ | (9,577 | ) | ||||
Changes in accumulated other comprehensive income (loss) during the nine months ended September 30, 2013 are as follows (in thousands): | ||||||||||||
Foreign currency translation adjustment | Unrealized gains (losses) on investments | Total | ||||||||||
Beginning balance | $ | (9,303 | ) | $ | 9 | $ | (9,294 | ) | ||||
Other comprehensive loss before reclassifications | (635 | ) | (9 | ) | (644 | ) | ||||||
Amounts reclassified from accumulated other comprehensive loss | — | — | — | |||||||||
Net current-period other comprehensive loss | (635 | ) | (9 | ) | (644 | ) | ||||||
Ending balance | $ | (9,938 | ) | $ | — | $ | (9,938 | ) | ||||
STOCK_BASED_COMPENSATION
STOCK BASED COMPENSATION | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||
Stock Based Compensation | ' | ||||||||||||||||
STOCK BASED COMPENSATION | |||||||||||||||||
Under the 2012 Omnibus Equity Award Plan, the Company has granted stock options and restricted stock to certain employees, consultants and directors. Compensation expense for stock-based awards made to employees, directors and consultants in return for service is recorded in accordance with Compensation-Stock Compensation of the FASB ASC. The expense is measured at the grant-date fair value of the award and recognized as compensation expense on a straight-line basis over the service period, which is the vesting period. The Company estimates forfeitures that it expects will occur and records expense based upon the number of awards expected to vest. The Company recorded stock based compensation expense of $1.7 million and $5.9 million during the three and nine month periods ended September 30, 2014, respectively, and $2.1 million and $6.3 million during the three month and nine month periods ended September 30, 2013, respectively. At September 30, 2014, there was $15.8 million of unrecognized compensation expense related to unvested awards, which is expected to be recognized over a weighted-average period of approximately 1.7 years. | |||||||||||||||||
Restricted Stock—Restricted stock is granted to employees and consultants of the Company and its subsidiaries, and to non-employee members of the Company’s Board. These shares are part of the compensation plan for services provided by the employees, consultants, or Board members. The closing price of the Company’s stock on the date of grant is used to determine the fair value of the grants. The expense related to the restricted stock grants is recorded over the vesting period. There was no cash flow impact resulting from the grants. | |||||||||||||||||
A summary of the status of restricted stock awards as of September 30, 2014 and 2013, and the changes during the periods then ended is presented below: | |||||||||||||||||
Three Months Ended September 30, 2014 | Three Months Ended September 30, 2013 | ||||||||||||||||
Shares | Weighted- Average Fair Value at Grant Date | Shares | Weighted- Average Fair Value at Grant Date | ||||||||||||||
Non-vested at beginning of the period | 1,891,131 | $ | 8.48 | 1,733,375 | $ | 9.91 | |||||||||||
Granted—Restricted Stock | 78,000 | $ | 7.69 | 117,000 | $ | 9.39 | |||||||||||
Forfeited during the period | (114,625 | ) | $ | 8.21 | (74,875 | ) | $ | 10.03 | |||||||||
Vested during the period | (56,000 | ) | $ | 9.43 | (25,125 | ) | $ | 10.07 | |||||||||
Non-vested at end of period | 1,798,506 | $ | 8.43 | 1,750,375 | $ | 9.87 | |||||||||||
Nine Months Ended September 30, 2014 | Nine Months Ended September 30, 2013 | ||||||||||||||||
Shares | Weighted- Average Fair Value at Grant Date | Shares | Weighted- Average Fair Value at Grant Date | ||||||||||||||
Non-vested at beginning of the period | 1,560,375 | $ | 9.81 | 1,305,369 | $ | 10.09 | |||||||||||
Granted—Restricted Stock | 1,013,500 | $ | 7.21 | 989,500 | $ | 9.8 | |||||||||||
Forfeited during the period | (208,825 | ) | $ | 8.64 | (170,563 | ) | $ | 10.2 | |||||||||
Vested during the period | (566,544 | ) | $ | 9.96 | (373,931 | ) | $ | 10.3 | |||||||||
Non-vested at end of period | 1,798,506 | $ | 8.43 | 1,750,375 | $ | 9.87 | |||||||||||
Stock Options—The fair value of each option grant is estimated using the Black-Scholes option-pricing model using the weighted-average assumptions in the table below. This valuation model requires the Company to make assumptions and judgments about the variables used in the calculation, including the fair value of the Company’s common stock, the expected life (the period of time that the options granted are expected to be outstanding), the volatility of the Company’s common stock, a risk-free interest rate and expected dividends. The expected life of options granted is derived from historical exercise behavior. The risk-free rate for periods within the expected life of the option is based on the U.S. Treasury rates in effect at the time of grant. | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
The weighted average fair value of options granted | $ | 2.57 | $ | 3.39 | $ | 2.6 | $ | 3.54 | |||||||||
Dividend yield | — | % | — | % | — | % | — | % | |||||||||
Weighted average risk free interest rate | 1.71 | % | 1.4 | % | 1.56 | % | 0.98 | % | |||||||||
Weighted average expected volatility | 36.73 | % | 41.46 | % | 40.53 | % | 42.2 | % | |||||||||
Expected life (in years) | 4.6 | 4.6 | 4.6 | 4.6 | |||||||||||||
A summary of the status of options granted as of September 30, 2014 and 2013, and the changes during the periods then ended is presented below: | |||||||||||||||||
Three Months Ended September 30, 2014 | |||||||||||||||||
Options | Weighted-Average Exercise Price | Aggregate Intrinsic Value | |||||||||||||||
Options outstanding at beginning of period | 7,044,103 | $ | 5.79 | $ | 16,371,140 | ||||||||||||
Granted | 3,000 | $ | 7.69 | — | |||||||||||||
Exercised | (1,014,414 | ) | $ | 4.47 | $ | 4,015,153 | |||||||||||
Forfeited | (110,746 | ) | $ | 9.75 | — | ||||||||||||
Options outstanding at end of period | 5,921,943 | $ | 5.94 | $ | 16,629,928 | ||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||
Options | Weighted-Average Exercise Price | Aggregate Intrinsic Value | |||||||||||||||
Options outstanding at beginning of period | 8,595,577 | $ | 5.24 | $ | 36,183,544 | ||||||||||||
Granted | 235,000 | $ | 9.29 | — | |||||||||||||
Exercised | (522,394 | ) | $ | 0.93 | $ | 4,188,424 | |||||||||||
Forfeited | (104,250 | ) | $ | 9.13 | — | ||||||||||||
Options outstanding at end of period | 8,203,933 | $ | 5.58 | $ | 27,187,484 | ||||||||||||
Nine Months Ended September 30, 2014 | |||||||||||||||||
Options | Weighted-Average Exercise Price | Aggregate Intrinsic Value | |||||||||||||||
Options outstanding at beginning of period | 7,536,601 | $ | 5.53 | $ | 17,493,907 | ||||||||||||
Granted | 617,000 | $ | 7.2 | — | |||||||||||||
Exercised | (1,913,943 | ) | $ | 4.17 | $ | 7,069,999 | |||||||||||
Forfeited | (317,715 | ) | $ | 9.46 | — | ||||||||||||
Options outstanding at end of period | 5,921,943 | $ | 5.94 | $ | 16,629,928 | ||||||||||||
Exercisable at end of period | 4,675,592 | $ | 5.29 | $ | 15,958,433 | ||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||
Options | Weighted-Average Exercise Price | Aggregate Intrinsic Value | |||||||||||||||
Options outstanding at beginning of period | 8,780,400 | $ | 4.67 | $ | 41,236,574 | ||||||||||||
Granted | 968,000 | $ | 9.71 | — | |||||||||||||
Exercised | (1,382,403 | ) | $ | 2.28 | $ | 9,848,965 | |||||||||||
Forfeited | (162,064 | ) | $ | 8.95 | — | ||||||||||||
Options outstanding at end of period | 8,203,933 | $ | 5.58 | $ | 27,187,484 | ||||||||||||
Exercisable at end of period | 6,475,360 | $ | 4.57 | $ | 26,834,448 | ||||||||||||
The weighted-average remaining contractual term of options exercisable at September 30, 2014 is 1.9 years. The following table summarizes information about options outstanding as of September 30, 2014: | |||||||||||||||||
Options Outstanding | Options | ||||||||||||||||
Exercisable | |||||||||||||||||
Exercise Price | Number | Weighted- | Number | ||||||||||||||
Outstanding | Average | Exercisable | |||||||||||||||
Remaining | |||||||||||||||||
Contractual | |||||||||||||||||
Life | |||||||||||||||||
(in years) | |||||||||||||||||
$ 0.20 - $ 0.99 | 313,791 | 0.9 | 313,791 | ||||||||||||||
$ 1.00 - $ 3.99 | 1,306,412 | 1.2 | 1,306,412 | ||||||||||||||
$ 4.00 - $ 5.99 | 580,445 | 2.1 | 580,445 | ||||||||||||||
$ 6.00 - $ 8.99 | 2,835,207 | 3.1 | 2,012,294 | ||||||||||||||
$ 9.00 - $ 14.50 | 886,088 | 5.1 | 462,650 | ||||||||||||||
5,921,943 | 4,675,592 | ||||||||||||||||
SEGMENT_INFORMATION
SEGMENT INFORMATION | 9 Months Ended | |||||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||||||||||
Segment Information | ' | |||||||||||||||||||||||||||
SEGMENT INFORMATION | ||||||||||||||||||||||||||||
The Company changed its reportable segments during the fourth quarter of 2013 to reflect the current operating structure. Accordingly, all prior periods have been recast to reflect the current segment presentation. | ||||||||||||||||||||||||||||
The Company has five reportable segments: Tech & Clearance, Finance, Energy, Healthcare and Hospitality. The Tech & Clearance reportable segment includes the Dice.com, ClearanceJobs.com, and The IT Job Board (since the date of acquisition) services, as well as related career fairs. The Finance reportable segment includes the eFinancialCareers service worldwide. The Energy reportable segment includes the Rigzone service, OilCareers service (since the date of acquisition) and related career fairs. The Healthcare reportable segment includes Health Callings, HEALTHeCAREERS and BioSpace (since the date of acquisition of HEALTHeCAREERS and BioSpace) services. The Hospitality reportable segment includes Hcareers (since the date of acquisition) and did not require recast as it was new in the year ended 2013. Management has organized its reportable segments based upon the industry verticals served. Each of the reportable segments generates significant revenue from sales of recruitment packages and related services. | ||||||||||||||||||||||||||||
The Company has other services and activities that individually are not more than 10% of consolidated revenues, operating income or total assets. These include Slashdot Media and WorkDigital and are reported in the “Corporate & Other” category, along with corporate-related costs which are not considered in a segment. | ||||||||||||||||||||||||||||
The Company’s foreign operations are comprised of The IT Job Board operations (since the date of acquisition) and a portion of the eFinancialCareers, OilCareers (since the date of acquisition) and Rigzone services, which operate in Europe, the financial centers of the gulf region of the Middle East and Asia Pacific. The Company’s foreign operations also include Hcareers (since the date of acquisition), which operates in Canada. | ||||||||||||||||||||||||||||
The following table shows the segment information (in thousands): | ||||||||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||
By Segment: | ||||||||||||||||||||||||||||
Revenues: | ||||||||||||||||||||||||||||
Tech & Clearance | $ | 34,783 | $ | 33,610 | $ | 101,268 | $ | 97,988 | ||||||||||||||||||||
Finance | 9,449 | 8,556 | 27,493 | 25,891 | ||||||||||||||||||||||||
Energy | 8,043 | 6,157 | 22,465 | 17,529 | ||||||||||||||||||||||||
Healthcare | 6,921 | 634 | 19,995 | 1,831 | ||||||||||||||||||||||||
Hospitality | 3,668 | — | 10,050 | — | ||||||||||||||||||||||||
Corporate & Other | 4,751 | 3,659 | 13,578 | 11,825 | ||||||||||||||||||||||||
Total revenues | $ | 67,615 | $ | 52,616 | $ | 194,849 | $ | 155,064 | ||||||||||||||||||||
Depreciation: | ||||||||||||||||||||||||||||
Tech & Clearance | $ | 1,581 | $ | 1,422 | $ | 4,715 | $ | 3,696 | ||||||||||||||||||||
Finance | 152 | 124 | 441 | 395 | ||||||||||||||||||||||||
Energy | 47 | 36 | 130 | 94 | ||||||||||||||||||||||||
Healthcare | 742 | 68 | 2,184 | 186 | ||||||||||||||||||||||||
Hospitality | 76 | — | 197 | — | ||||||||||||||||||||||||
Corporate & Other | 332 | 361 | 980 | 1,006 | ||||||||||||||||||||||||
Total depreciation | $ | 2,930 | $ | 2,011 | $ | 8,647 | $ | 5,377 | ||||||||||||||||||||
Amortization: | ||||||||||||||||||||||||||||
Tech & Clearance | $ | 973 | $ | 760 | $ | 2,917 | $ | 760 | ||||||||||||||||||||
Finance | 19 | 19 | 57 | 406 | ||||||||||||||||||||||||
Energy | 1,605 | 775 | 4,170 | 2,325 | ||||||||||||||||||||||||
Healthcare | 464 | — | 3,201 | 67 | ||||||||||||||||||||||||
Hospitality | 575 | — | 1,722 | — | ||||||||||||||||||||||||
Corporate & Other | 162 | 654 | 485 | 2,059 | ||||||||||||||||||||||||
Total amortization | $ | 3,798 | $ | 2,208 | $ | 12,552 | $ | 5,617 | ||||||||||||||||||||
Operating income (loss): | ||||||||||||||||||||||||||||
Tech & Clearance | $ | 13,065 | $ | 15,258 | $ | 37,981 | $ | 46,018 | ||||||||||||||||||||
Finance | 1,823 | 1,169 | 5,090 | 4,794 | ||||||||||||||||||||||||
Energy | 2,061 | 1,676 | 4,626 | 4,601 | ||||||||||||||||||||||||
Healthcare | (766 | ) | (327 | ) | (4,000 | ) | (1,065 | ) | ||||||||||||||||||||
Hospitality | 801 | — | 1,578 | — | ||||||||||||||||||||||||
Corporate & Other | (3,552 | ) | (6,260 | ) | (10,979 | ) | (18,676 | ) | ||||||||||||||||||||
Operating income | 13,432 | 11,516 | 34,296 | 35,672 | ||||||||||||||||||||||||
Interest expense | (927 | ) | (378 | ) | (2,875 | ) | (1,097 | ) | ||||||||||||||||||||
Other income (expense) | 8 | 5 | (129 | ) | 261 | |||||||||||||||||||||||
Income before income taxes | $ | 12,513 | $ | 11,143 | $ | 31,292 | $ | 34,836 | ||||||||||||||||||||
Capital expenditures: | ||||||||||||||||||||||||||||
Tech & Clearance | $ | 1,923 | $ | 1,787 | $ | 4,729 | $ | 6,207 | ||||||||||||||||||||
Finance | 50 | 129 | 542 | 235 | ||||||||||||||||||||||||
Energy | 31 | 91 | 128 | 390 | ||||||||||||||||||||||||
Healthcare | 432 | 139 | 1,138 | 311 | ||||||||||||||||||||||||
Hospitality | 2 | — | 20 | — | ||||||||||||||||||||||||
Corporate & Other | 19 | 128 | 227 | 1,172 | ||||||||||||||||||||||||
Total capital expenditures | $ | 2,457 | $ | 2,274 | $ | 6,784 | $ | 8,315 | ||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||
By Geography: | ||||||||||||||||||||||||||||
Revenues: | ||||||||||||||||||||||||||||
United States | $ | 47,603 | $ | 42,457 | $ | 139,446 | $ | 125,297 | ||||||||||||||||||||
Non-United States | 20,012 | 10,159 | 55,403 | 29,767 | ||||||||||||||||||||||||
Total revenues | $ | 67,615 | $ | 52,616 | $ | 194,849 | $ | 155,064 | ||||||||||||||||||||
September 30, | December 31, | |||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||
Total assets: | ||||||||||||||||||||||||||||
Tech & Clearance | $ | 177,892 | $ | 180,366 | ||||||||||||||||||||||||
Finance | 77,308 | 89,213 | ||||||||||||||||||||||||||
Energy | 82,887 | 52,374 | ||||||||||||||||||||||||||
Healthcare | 22,032 | 28,679 | ||||||||||||||||||||||||||
Hospitality | 34,919 | 38,600 | ||||||||||||||||||||||||||
Corporate & Other | 31,222 | 31,409 | ||||||||||||||||||||||||||
Total assets | $ | 426,260 | $ | 420,641 | ||||||||||||||||||||||||
The following table shows the carrying amount of goodwill by reportable segment as of December 31, 2013 and September 30, 2014 and the changes in goodwill for the nine month period ended September 30, 2014 (in thousands): | ||||||||||||||||||||||||||||
Tech & Clearance | Finance | Energy | Healthcare | Hospitality | Corporate & Other | Total | ||||||||||||||||||||||
Balance, December 31, 2013 | $ | 96,519 | $ | 56,254 | $ | 35,104 | $ | 6,269 | $ | 17,456 | $ | 18,588 | $ | 230,190 | ||||||||||||||
Addition for Acquisitions | — | — | 15,078 | — | — | — | 15,078 | |||||||||||||||||||||
Foreign currency translation adjustment | (151 | ) | (727 | ) | 5 | — | (916 | ) | (281 | ) | (2,070 | ) | ||||||||||||||||
Goodwill at September 30, 2014 | $ | 96,368 | $ | 55,527 | $ | 50,187 | $ | 6,269 | $ | 16,540 | $ | 18,307 | $ | 243,198 | ||||||||||||||
Goodwill acquired during the nine month period ended September 30, 2014 was the result of the OilCareers acquisition. OilCareers was acquired in March 2014 and the valuation of assets and liabilities was completed during the second quarter of 2014, resulting in an increase to goodwill. |
EARNINGS_PER_SHARE
EARNINGS PER SHARE | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Earnings Per Share | ' | |||||||||||||||
EARNINGS PER SHARE | ||||||||||||||||
Basic earnings per share (“EPS”) is computed based on the weighted-average number of shares of common stock outstanding. Diluted EPS is computed based on the weighted-average number of shares of common stock outstanding plus common stock equivalents assuming exercise of stock options, where dilutive. Options to purchase approximately 2.5 million and 2.9 million shares were outstanding during the three and nine month periods ended September 30, 2014, respectively, and options to purchase 3.0 million and 2.3 million shares were outstanding during the three and nine month periods ended September 30, 2013, respectively, but were excluded from the calculation of diluted EPS for the periods then ended because the options’ exercise price was greater than the average market price of the common shares. The following is a calculation of basic and diluted earnings per share and weighted-average shares outstanding (in thousands, except per share amounts): | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Income from continuing operations—basic and diluted | $ | 9,493 | $ | 7,058 | $ | 21,096 | $ | 22,106 | ||||||||
Weighted-average shares outstanding—basic | 52,089 | 56,606 | 52,486 | 57,324 | ||||||||||||
Add shares issuable upon exercise of stock options | 2,017 | 2,899 | 2,059 | 3,173 | ||||||||||||
Weighted-average shares outstanding—diluted | 54,106 | 59,505 | 54,545 | 60,497 | ||||||||||||
Basic earnings per share | $ | 0.18 | $ | 0.12 | $ | 0.4 | $ | 0.39 | ||||||||
Diluted earnings per share | $ | 0.18 | $ | 0.12 | $ | 0.39 | $ | 0.37 | ||||||||
ACQUISITIONS_Tables
ACQUISITIONS (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
OilCareers [Member] | ' | |||||||||||||||
Business Acquisition [Line Items] | ' | |||||||||||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | ' | |||||||||||||||
The final valuation of assets and liabilities recognized as of the acquisition date for OilCareers include (in thousands): | ||||||||||||||||
OilCareers Acquisition | ||||||||||||||||
Assets: | ||||||||||||||||
Accounts receivable | $ | 1,082 | ||||||||||||||
Acquired intangible assets | 14,508 | |||||||||||||||
Goodwill | 15,078 | |||||||||||||||
Fixed assets | 98 | |||||||||||||||
Other assets | 196 | |||||||||||||||
Assets acquired | 30,962 | |||||||||||||||
Liabilities: | ||||||||||||||||
Accounts payable and accrued expenses | $ | 567 | ||||||||||||||
Deferred revenue | 1,081 | |||||||||||||||
Deferred income taxes | 2,916 | |||||||||||||||
Liabilities assumed | 4,564 | |||||||||||||||
Net Assets Acquired | $ | 26,398 | ||||||||||||||
onTargetJobs and The IT Job Board [Member] | ' | |||||||||||||||
Business Acquisition [Line Items] | ' | |||||||||||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | ' | |||||||||||||||
The assets and liabilities recognized as of the acquisition dates for onTargetjobs and The IT Job Board include (in thousands): | ||||||||||||||||
onTargetjobs and The IT Job Board Acquisitions | ||||||||||||||||
Assets: | ||||||||||||||||
Cash and cash equivalents | $ | 8,200 | ||||||||||||||
Accounts receivable | 7,558 | |||||||||||||||
Acquired intangible assets | 38,410 | |||||||||||||||
Goodwill | 32,935 | |||||||||||||||
Fixed assets | 5,688 | |||||||||||||||
Other assets | 1,195 | |||||||||||||||
Assets acquired | 93,986 | |||||||||||||||
Liabilities: | ||||||||||||||||
Accounts payable and accrued expenses | $ | 9,577 | ||||||||||||||
Deferred revenue | 5,465 | |||||||||||||||
Deferred income taxes | 7,160 | |||||||||||||||
Fair value of contingent consideration | 4,474 | |||||||||||||||
Liabilities assumed | 26,676 | |||||||||||||||
Net Assets Acquired | $ | 67,310 | ||||||||||||||
onTargetJobs [Member] | ' | |||||||||||||||
Business Acquisition [Line Items] | ' | |||||||||||||||
Pro Forma Information | ' | |||||||||||||||
Pro forma Information—The following pro forma consolidated results of operations are presented as if the acquisition of onTargetjobs was completed as of January 1, 2013: | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Revenues | $ | 67,615 | $ | 62,539 | $ | 194,849 | $ | 184,446 | ||||||||
Net income | 9,493 | 7,417 | 21,096 | 22,391 | ||||||||||||
Basic earnings per share | 0.18 | 0.13 | 0.4 | 0.39 | ||||||||||||
FAIR_VALUE_MEASUREMENTS_Tables
FAIR VALUE MEASUREMENTS (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Schedule of assets and liabilities measured at fair value on a recurring basis | ' | |||||||||||||||
The assets and liabilities measured at fair value on a recurring basis are as follows (in thousands): | ||||||||||||||||
As of September 30, 2014 | ||||||||||||||||
Fair Value Measurements Using | Total | |||||||||||||||
Quoted Prices in | Significant Other | Significant | ||||||||||||||
Active Markets for | Observable | Unobservable | ||||||||||||||
Identical Assets | Inputs | Inputs | ||||||||||||||
(Level 1) | (Level 2) | (Level 3) | ||||||||||||||
Money market funds | $ | 361 | $ | — | $ | — | $ | 361 | ||||||||
Contingent consideration to be paid in cash for the acquisitions | — | — | 9,040 | 9,040 | ||||||||||||
As of December 31, 2013 | ||||||||||||||||
Fair Value Measurements Using | Total | |||||||||||||||
Quoted Prices in | Significant Other | Significant | ||||||||||||||
Active Markets for | Observable | Unobservable | ||||||||||||||
Identical Assets | Inputs | Inputs | ||||||||||||||
(Level 1) | (Level 2) | (Level 3) | ||||||||||||||
Money market funds | $ | 15,610 | $ | — | $ | — | $ | 15,610 | ||||||||
Contingent consideration to be paid in cash for the acquisitions | — | — | 9,793 | 9,793 | ||||||||||||
Reconciliations of liabilities measured and carried at fair value on a recurring basis | ' | |||||||||||||||
Reconciliations of liabilities measured and carried at fair value on a recurring basis with the use of significant unobservable inputs (Level 3) are as follows (in thousands): | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Contingent consideration for acquisitions | ||||||||||||||||
Balance at beginning of period | $ | 9,195 | $ | 9,852 | $ | 9,793 | $ | 9,756 | ||||||||
Additions for acquisitions | — | 4,738 | — | 4,738 | ||||||||||||
Cash payments | — | — | (824 | ) | — | |||||||||||
Change in estimates included in earnings | 44 | 50 | 134 | 146 | ||||||||||||
Change due to foreign exchange rate changes | (199 | ) | — | (63 | ) | — | ||||||||||
Balance at end of period | $ | 9,040 | $ | 14,640 | $ | 9,040 | $ | 14,640 | ||||||||
ACQUIRED_INTANGIBLE_ASSETS_NET1
ACQUIRED INTANGIBLE ASSETS, NET (Tables) | 9 Months Ended | |||||||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||||||
Intangible Assets, Net (Excluding Goodwill) [Abstract] | ' | |||||||||||||||||||||||||||||
Schedule of Acquired Intangible Assets | ' | |||||||||||||||||||||||||||||
Below is a summary of the major acquired intangible assets and the weighted-average amortization period for the acquired identifiable intangible assets (in thousands): | ||||||||||||||||||||||||||||||
As of and for the Nine Months Ended September 30, 2014 | ||||||||||||||||||||||||||||||
Cost | Acquisitions | Total Cost | Accumulated | Foreign | Acquired | Weighted- | ||||||||||||||||||||||||
Amortization | Currency | Intangible | Average | |||||||||||||||||||||||||||
Translation | Assets, Net | Amortization | ||||||||||||||||||||||||||||
Adjustment | Period | |||||||||||||||||||||||||||||
Technology | $ | 23,654 | $ | 166 | $ | 23,820 | $ | (19,757 | ) | $ | (120 | ) | $ | 3,943 | 3.5 years | |||||||||||||||
Trademarks and brand names—Dice | 39,000 | — | 39,000 | — | — | 39,000 | Indefinite | |||||||||||||||||||||||
Trademarks and brand names—Other | 23,837 | 1,123 | 24,960 | (12,231 | ) | (696 | ) | 12,033 | 6.1 years | |||||||||||||||||||||
Customer lists | 54,932 | 9,403 | 64,335 | (41,363 | ) | (1,418 | ) | 21,554 | 5.5 years | |||||||||||||||||||||
Candidate and content database | 40,198 | 3,816 | 44,014 | (34,863 | ) | 255 | 9,406 | 2.7 years | ||||||||||||||||||||||
Order backlog | 2,718 | — | 2,718 | (2,718 | ) | — | — | 0.5 years | ||||||||||||||||||||||
Acquired intangible assets, net | $ | 184,339 | $ | 14,508 | $ | 198,847 | $ | (110,932 | ) | $ | (1,979 | ) | $ | 85,936 | ||||||||||||||||
As of and for the Year Ended December 31, 2013 | ||||||||||||||||||||||||||||||
Cost | Acquisitions | Total Cost | Accumulated | Foreign | Impairment | Acquired | Weighted- | |||||||||||||||||||||||
Amortization | Currency | Intangible | Average | |||||||||||||||||||||||||||
Translation | Assets, Net | Amortization | ||||||||||||||||||||||||||||
Adjustment | Period | |||||||||||||||||||||||||||||
Technology | $ | 21,000 | $ | 4,028 | $ | 25,028 | $ | (17,566 | ) | $ | (35 | ) | $ | (1,374 | ) | $ | 6,053 | 3.5 years | ||||||||||||
Trademarks and brand names—Dice | 39,000 | — | 39,000 | — | — | — | 39,000 | Indefinite | ||||||||||||||||||||||
Trademarks and brand names—Other | 19,115 | 6,651 | 25,766 | (10,541 | ) | (505 | ) | (1,929 | ) | 12,791 | 6.2 years | |||||||||||||||||||
Customer lists | 45,213 | 14,500 | 59,713 | (40,255 | ) | (840 | ) | (3,281 | ) | 15,337 | 5.3 years | |||||||||||||||||||
Candidate and content database | 30,341 | 10,513 | 40,854 | (30,615 | ) | 329 | (656 | ) | 9,912 | 2.8 years | ||||||||||||||||||||
Order backlog | — | 2,718 | 2,718 | (906 | ) | — | — | 1,812 | 0.5 years | |||||||||||||||||||||
Acquired intangible assets, net | $ | 154,669 | $ | 38,410 | $ | 193,079 | $ | (99,883 | ) | $ | (1,051 | ) | $ | (7,240 | ) | $ | 84,905 | |||||||||||||
Schedule of Estimated Future Amortization Expense | ' | |||||||||||||||||||||||||||||
Based on the carrying value of the acquired finite-lived intangible assets recorded as of September 30, 2014, and assuming no subsequent impairment of the underlying assets, the estimated future amortization expense is as follows (in thousands): | ||||||||||||||||||||||||||||||
October 1, 2014 through December 31, 2014 | $ | 3,780 | ||||||||||||||||||||||||||||
2015 | 13,825 | |||||||||||||||||||||||||||||
2016 | 8,259 | |||||||||||||||||||||||||||||
2017 | 5,101 | |||||||||||||||||||||||||||||
2018 | 4,545 | |||||||||||||||||||||||||||||
2019 and thereafter | 11,426 | |||||||||||||||||||||||||||||
Total | $ | 46,936 | ||||||||||||||||||||||||||||
INDEBTEDNESS_Tables
INDEBTEDNESS (Tables) | 9 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Debt Instrument [Line Items] | ' | |||||||
Schedule of Maturities of Long-term Debt [Table Text Block] | ' | |||||||
Future maturities as of September 30, 2014 are as follows (in thousands): | ||||||||
October 1, 2014 through December 31, 2014 | $ | 625 | ||||||
2015 | 2,500 | |||||||
2016 | 5,000 | |||||||
2017 | 5,000 | |||||||
2018 | 100,000 | |||||||
Total minimum payments | $ | 113,125 | ||||||
Schedule of Long-term Debt | ' | |||||||
The amounts borrowed as of September 30, 2014 and December 31, 2013 are as follows (dollars in thousands): | ||||||||
September 30, | December 31, | |||||||
2014 | 2013 | |||||||
Amounts borrowed: | ||||||||
Term loan facility | $ | 48,125 | $ | 50,000 | ||||
Revolving credit facility | 65,000 | 69,000 | ||||||
Total borrowed | $ | 113,125 | $ | 119,000 | ||||
Available to be borrowed under revolving facility | $ | 135,000 | $ | 131,000 | ||||
Interest rates: | ||||||||
LIBOR rate loans: | ||||||||
Interest margin | 2 | % | 2 | % | ||||
Actual interest rates | 2.19 | % | 2.19 | % |
COMMITMENTS_AND_CONTINGENCIES_
COMMITMENTS AND CONTINGENCIES (Tables) | 9 Months Ended | |||
Sep. 30, 2014 | ||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||
Schedule of Future Minimum Lease Payments | ' | |||
The Company leases equipment and office space under operating leases expiring at various dates through December 2025. Future minimum lease payments under non-cancellable operating leases as of September 30, 2014 are as follows (in thousands): | ||||
October 1, 2014 through December 31, 2014 | $ | 1,311 | ||
2015 | 3,277 | |||
2016 | 2,836 | |||
2017 | 2,832 | |||
2018 | 2,520 | |||
2019 and thereafter | 9,208 | |||
Total minimum payments | $ | 21,984 | ||
EQUITY_TRANSACTIONS_Stock_Repu
EQUITY TRANSACTIONS Stock Repurchase Plan (Tables) | 9 Months Ended | |||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||
Class of Treasury Stock [Table Text Block] | ' | |||||||||||||||||
The following table summarizes the Stock Repurchase Plans approved by the Board of Directors: | ||||||||||||||||||
Stock Repurchase Plan | ||||||||||||||||||
II | III | IV | ||||||||||||||||
Approval Date | Mar-12 | Jan-13 | Dec-13 | |||||||||||||||
Authorized Repurchase Amount of Common Stock | $65 million | $50 million | $50 million | |||||||||||||||
Effective Dates | March 2012 to March 2013 | April 2013 to December 2013 | December 2013 to present | |||||||||||||||
During the quarter ended September 30, 2014, purchases of the Company’s common stock pursuant to Stock Repurchase Plan IV were as follows: | ||||||||||||||||||
Total Number of Shares Purchased | Average Price Paid per Share | Dollar Value of Shares Purchased | Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs | |||||||||||||||
1,056,207 | $ | 8.22 | $ | 8,677,152 | $ | 21,987,000 | ||||||||||||
ACCUMULATED_OTHER_COMPREHENSIV1
ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables) | 9 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | |||||||||||
Schedule of Accumulated Other Comprehensive Income | ' | |||||||||||
Accumulated other comprehensive loss, net consists of the following components, net of tax, (in thousands): | ||||||||||||
September 30, | December 31, | |||||||||||
2014 | 2013 | |||||||||||
Foreign currency translation adjustment | $ | (9,577 | ) | $ | (6,117 | ) | ||||||
Unrealized gains on investments, net of tax of $0 and $0 | — | 3 | ||||||||||
Total accumulated other comprehensive loss, net | $ | (9,577 | ) | $ | (6,114 | ) | ||||||
Changes in accumulated other comprehensive income (loss) during the three months ended September 30, 2014 are as follows (in thousands): | ||||||||||||
Foreign currency translation adjustment | Unrealized gains on investments | Total | ||||||||||
Beginning balance | $ | (5,821 | ) | $ | 3 | $ | (5,818 | ) | ||||
Other comprehensive loss before reclassifications | (3,759 | ) | — | (3,759 | ) | |||||||
Amounts reclassified from accumulated other comprehensive loss | — | — | — | |||||||||
Net current-period other comprehensive loss | (3,759 | ) | — | (3,759 | ) | |||||||
Ending balance | $ | (9,580 | ) | $ | 3 | $ | (9,577 | ) | ||||
Changes in accumulated other comprehensive income (loss) during the three months ended September 30, 2013 are as follows (in thousands): | ||||||||||||
Foreign currency translation adjustment | Unrealized gains (losses) on investments | Total | ||||||||||
Beginning balance | $ | (14,351 | ) | $ | — | $ | (14,351 | ) | ||||
Other comprehensive income before reclassifications | 4,413 | — | 4,413 | |||||||||
Amounts reclassified from accumulated other comprehensive loss | — | — | — | |||||||||
Net current-period other comprehensive income | 4,413 | — | 4,413 | |||||||||
Ending balance | $ | (9,938 | ) | $ | — | $ | (9,938 | ) | ||||
Changes in accumulated other comprehensive income (loss) during the nine months ended September 30, 2014 are as follows (in thousands): | ||||||||||||
Foreign currency translation adjustment | Unrealized gains on investments | Total | ||||||||||
Beginning balance | $ | (6,117 | ) | $ | 3 | $ | (6,114 | ) | ||||
Other comprehensive loss before reclassifications | (3,463 | ) | — | (3,463 | ) | |||||||
Amounts reclassified from accumulated other comprehensive loss | — | — | — | |||||||||
Net current-period other comprehensive loss | (3,463 | ) | — | (3,463 | ) | |||||||
Ending balance | $ | (9,580 | ) | $ | 3 | $ | (9,577 | ) | ||||
Changes in accumulated other comprehensive income (loss) during the nine months ended September 30, 2013 are as follows (in thousands): | ||||||||||||
Foreign currency translation adjustment | Unrealized gains (losses) on investments | Total | ||||||||||
Beginning balance | $ | (9,303 | ) | $ | 9 | $ | (9,294 | ) | ||||
Other comprehensive loss before reclassifications | (635 | ) | (9 | ) | (644 | ) | ||||||
Amounts reclassified from accumulated other comprehensive loss | — | — | — | |||||||||
Net current-period other comprehensive loss | (635 | ) | (9 | ) | (644 | ) | ||||||
Ending balance | $ | (9,938 | ) | $ | — | $ | (9,938 | ) | ||||
STOCK_BASED_COMPENSATION_Table
STOCK BASED COMPENSATION (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||
Schedule of Nonvested Share Activity | ' | ||||||||||||||||
A summary of the status of restricted stock awards as of September 30, 2014 and 2013, and the changes during the periods then ended is presented below: | |||||||||||||||||
Three Months Ended September 30, 2014 | Three Months Ended September 30, 2013 | ||||||||||||||||
Shares | Weighted- Average Fair Value at Grant Date | Shares | Weighted- Average Fair Value at Grant Date | ||||||||||||||
Non-vested at beginning of the period | 1,891,131 | $ | 8.48 | 1,733,375 | $ | 9.91 | |||||||||||
Granted—Restricted Stock | 78,000 | $ | 7.69 | 117,000 | $ | 9.39 | |||||||||||
Forfeited during the period | (114,625 | ) | $ | 8.21 | (74,875 | ) | $ | 10.03 | |||||||||
Vested during the period | (56,000 | ) | $ | 9.43 | (25,125 | ) | $ | 10.07 | |||||||||
Non-vested at end of period | 1,798,506 | $ | 8.43 | 1,750,375 | $ | 9.87 | |||||||||||
Nine Months Ended September 30, 2014 | Nine Months Ended September 30, 2013 | ||||||||||||||||
Shares | Weighted- Average Fair Value at Grant Date | Shares | Weighted- Average Fair Value at Grant Date | ||||||||||||||
Non-vested at beginning of the period | 1,560,375 | $ | 9.81 | 1,305,369 | $ | 10.09 | |||||||||||
Granted—Restricted Stock | 1,013,500 | $ | 7.21 | 989,500 | $ | 9.8 | |||||||||||
Forfeited during the period | (208,825 | ) | $ | 8.64 | (170,563 | ) | $ | 10.2 | |||||||||
Vested during the period | (566,544 | ) | $ | 9.96 | (373,931 | ) | $ | 10.3 | |||||||||
Non-vested at end of period | 1,798,506 | $ | 8.43 | 1,750,375 | $ | 9.87 | |||||||||||
Schedule of Valuation Assumptions | ' | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
The weighted average fair value of options granted | $ | 2.57 | $ | 3.39 | $ | 2.6 | $ | 3.54 | |||||||||
Dividend yield | — | % | — | % | — | % | — | % | |||||||||
Weighted average risk free interest rate | 1.71 | % | 1.4 | % | 1.56 | % | 0.98 | % | |||||||||
Weighted average expected volatility | 36.73 | % | 41.46 | % | 40.53 | % | 42.2 | % | |||||||||
Expected life (in years) | 4.6 | 4.6 | 4.6 | 4.6 | |||||||||||||
Schedule of Status of Options Granted | ' | ||||||||||||||||
A summary of the status of options granted as of September 30, 2014 and 2013, and the changes during the periods then ended is presented below: | |||||||||||||||||
Three Months Ended September 30, 2014 | |||||||||||||||||
Options | Weighted-Average Exercise Price | Aggregate Intrinsic Value | |||||||||||||||
Options outstanding at beginning of period | 7,044,103 | $ | 5.79 | $ | 16,371,140 | ||||||||||||
Granted | 3,000 | $ | 7.69 | — | |||||||||||||
Exercised | (1,014,414 | ) | $ | 4.47 | $ | 4,015,153 | |||||||||||
Forfeited | (110,746 | ) | $ | 9.75 | — | ||||||||||||
Options outstanding at end of period | 5,921,943 | $ | 5.94 | $ | 16,629,928 | ||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||
Options | Weighted-Average Exercise Price | Aggregate Intrinsic Value | |||||||||||||||
Options outstanding at beginning of period | 8,595,577 | $ | 5.24 | $ | 36,183,544 | ||||||||||||
Granted | 235,000 | $ | 9.29 | — | |||||||||||||
Exercised | (522,394 | ) | $ | 0.93 | $ | 4,188,424 | |||||||||||
Forfeited | (104,250 | ) | $ | 9.13 | — | ||||||||||||
Options outstanding at end of period | 8,203,933 | $ | 5.58 | $ | 27,187,484 | ||||||||||||
Nine Months Ended September 30, 2014 | |||||||||||||||||
Options | Weighted-Average Exercise Price | Aggregate Intrinsic Value | |||||||||||||||
Options outstanding at beginning of period | 7,536,601 | $ | 5.53 | $ | 17,493,907 | ||||||||||||
Granted | 617,000 | $ | 7.2 | — | |||||||||||||
Exercised | (1,913,943 | ) | $ | 4.17 | $ | 7,069,999 | |||||||||||
Forfeited | (317,715 | ) | $ | 9.46 | — | ||||||||||||
Options outstanding at end of period | 5,921,943 | $ | 5.94 | $ | 16,629,928 | ||||||||||||
Exercisable at end of period | 4,675,592 | $ | 5.29 | $ | 15,958,433 | ||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||
Options | Weighted-Average Exercise Price | Aggregate Intrinsic Value | |||||||||||||||
Options outstanding at beginning of period | 8,780,400 | $ | 4.67 | $ | 41,236,574 | ||||||||||||
Granted | 968,000 | $ | 9.71 | — | |||||||||||||
Exercised | (1,382,403 | ) | $ | 2.28 | $ | 9,848,965 | |||||||||||
Forfeited | (162,064 | ) | $ | 8.95 | — | ||||||||||||
Options outstanding at end of period | 8,203,933 | $ | 5.58 | $ | 27,187,484 | ||||||||||||
Exercisable at end of period | 6,475,360 | $ | 4.57 | $ | 26,834,448 | ||||||||||||
Schedule of Exercise Price Range | ' | ||||||||||||||||
The following table summarizes information about options outstanding as of September 30, 2014: | |||||||||||||||||
Options Outstanding | Options | ||||||||||||||||
Exercisable | |||||||||||||||||
Exercise Price | Number | Weighted- | Number | ||||||||||||||
Outstanding | Average | Exercisable | |||||||||||||||
Remaining | |||||||||||||||||
Contractual | |||||||||||||||||
Life | |||||||||||||||||
(in years) | |||||||||||||||||
$ 0.20 - $ 0.99 | 313,791 | 0.9 | 313,791 | ||||||||||||||
$ 1.00 - $ 3.99 | 1,306,412 | 1.2 | 1,306,412 | ||||||||||||||
$ 4.00 - $ 5.99 | 580,445 | 2.1 | 580,445 | ||||||||||||||
$ 6.00 - $ 8.99 | 2,835,207 | 3.1 | 2,012,294 | ||||||||||||||
$ 9.00 - $ 14.50 | 886,088 | 5.1 | 462,650 | ||||||||||||||
5,921,943 | 4,675,592 | ||||||||||||||||
SEGMENT_INFORMATION_Tables
SEGMENT INFORMATION (Tables) | 9 Months Ended | |||||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||||||||||
Schedule of Segment Reporting Information, by Segment | ' | |||||||||||||||||||||||||||
The following table shows the segment information (in thousands): | ||||||||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||
By Segment: | ||||||||||||||||||||||||||||
Revenues: | ||||||||||||||||||||||||||||
Tech & Clearance | $ | 34,783 | $ | 33,610 | $ | 101,268 | $ | 97,988 | ||||||||||||||||||||
Finance | 9,449 | 8,556 | 27,493 | 25,891 | ||||||||||||||||||||||||
Energy | 8,043 | 6,157 | 22,465 | 17,529 | ||||||||||||||||||||||||
Healthcare | 6,921 | 634 | 19,995 | 1,831 | ||||||||||||||||||||||||
Hospitality | 3,668 | — | 10,050 | — | ||||||||||||||||||||||||
Corporate & Other | 4,751 | 3,659 | 13,578 | 11,825 | ||||||||||||||||||||||||
Total revenues | $ | 67,615 | $ | 52,616 | $ | 194,849 | $ | 155,064 | ||||||||||||||||||||
Depreciation: | ||||||||||||||||||||||||||||
Tech & Clearance | $ | 1,581 | $ | 1,422 | $ | 4,715 | $ | 3,696 | ||||||||||||||||||||
Finance | 152 | 124 | 441 | 395 | ||||||||||||||||||||||||
Energy | 47 | 36 | 130 | 94 | ||||||||||||||||||||||||
Healthcare | 742 | 68 | 2,184 | 186 | ||||||||||||||||||||||||
Hospitality | 76 | — | 197 | — | ||||||||||||||||||||||||
Corporate & Other | 332 | 361 | 980 | 1,006 | ||||||||||||||||||||||||
Total depreciation | $ | 2,930 | $ | 2,011 | $ | 8,647 | $ | 5,377 | ||||||||||||||||||||
Amortization: | ||||||||||||||||||||||||||||
Tech & Clearance | $ | 973 | $ | 760 | $ | 2,917 | $ | 760 | ||||||||||||||||||||
Finance | 19 | 19 | 57 | 406 | ||||||||||||||||||||||||
Energy | 1,605 | 775 | 4,170 | 2,325 | ||||||||||||||||||||||||
Healthcare | 464 | — | 3,201 | 67 | ||||||||||||||||||||||||
Hospitality | 575 | — | 1,722 | — | ||||||||||||||||||||||||
Corporate & Other | 162 | 654 | 485 | 2,059 | ||||||||||||||||||||||||
Total amortization | $ | 3,798 | $ | 2,208 | $ | 12,552 | $ | 5,617 | ||||||||||||||||||||
Operating income (loss): | ||||||||||||||||||||||||||||
Tech & Clearance | $ | 13,065 | $ | 15,258 | $ | 37,981 | $ | 46,018 | ||||||||||||||||||||
Finance | 1,823 | 1,169 | 5,090 | 4,794 | ||||||||||||||||||||||||
Energy | 2,061 | 1,676 | 4,626 | 4,601 | ||||||||||||||||||||||||
Healthcare | (766 | ) | (327 | ) | (4,000 | ) | (1,065 | ) | ||||||||||||||||||||
Hospitality | 801 | — | 1,578 | — | ||||||||||||||||||||||||
Corporate & Other | (3,552 | ) | (6,260 | ) | (10,979 | ) | (18,676 | ) | ||||||||||||||||||||
Operating income | 13,432 | 11,516 | 34,296 | 35,672 | ||||||||||||||||||||||||
Interest expense | (927 | ) | (378 | ) | (2,875 | ) | (1,097 | ) | ||||||||||||||||||||
Other income (expense) | 8 | 5 | (129 | ) | 261 | |||||||||||||||||||||||
Income before income taxes | $ | 12,513 | $ | 11,143 | $ | 31,292 | $ | 34,836 | ||||||||||||||||||||
Capital expenditures: | ||||||||||||||||||||||||||||
Tech & Clearance | $ | 1,923 | $ | 1,787 | $ | 4,729 | $ | 6,207 | ||||||||||||||||||||
Finance | 50 | 129 | 542 | 235 | ||||||||||||||||||||||||
Energy | 31 | 91 | 128 | 390 | ||||||||||||||||||||||||
Healthcare | 432 | 139 | 1,138 | 311 | ||||||||||||||||||||||||
Hospitality | 2 | — | 20 | — | ||||||||||||||||||||||||
Corporate & Other | 19 | 128 | 227 | 1,172 | ||||||||||||||||||||||||
Total capital expenditures | $ | 2,457 | $ | 2,274 | $ | 6,784 | $ | 8,315 | ||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||
By Geography: | ||||||||||||||||||||||||||||
Revenues: | ||||||||||||||||||||||||||||
United States | $ | 47,603 | $ | 42,457 | $ | 139,446 | $ | 125,297 | ||||||||||||||||||||
Non-United States | 20,012 | 10,159 | 55,403 | 29,767 | ||||||||||||||||||||||||
Total revenues | $ | 67,615 | $ | 52,616 | $ | 194,849 | $ | 155,064 | ||||||||||||||||||||
September 30, | December 31, | |||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||
Total assets: | ||||||||||||||||||||||||||||
Tech & Clearance | $ | 177,892 | $ | 180,366 | ||||||||||||||||||||||||
Finance | 77,308 | 89,213 | ||||||||||||||||||||||||||
Energy | 82,887 | 52,374 | ||||||||||||||||||||||||||
Healthcare | 22,032 | 28,679 | ||||||||||||||||||||||||||
Hospitality | 34,919 | 38,600 | ||||||||||||||||||||||||||
Corporate & Other | 31,222 | 31,409 | ||||||||||||||||||||||||||
Total assets | $ | 426,260 | $ | 420,641 | ||||||||||||||||||||||||
The following table shows the carrying amount of goodwill by reportable segment as of December 31, 2013 and September 30, 2014 and the changes in goodwill for the nine month period ended September 30, 2014 (in thousands): | ||||||||||||||||||||||||||||
Tech & Clearance | Finance | Energy | Healthcare | Hospitality | Corporate & Other | Total | ||||||||||||||||||||||
Balance, December 31, 2013 | $ | 96,519 | $ | 56,254 | $ | 35,104 | $ | 6,269 | $ | 17,456 | $ | 18,588 | $ | 230,190 | ||||||||||||||
Addition for Acquisitions | — | — | 15,078 | — | — | — | 15,078 | |||||||||||||||||||||
Foreign currency translation adjustment | (151 | ) | (727 | ) | 5 | — | (916 | ) | (281 | ) | (2,070 | ) | ||||||||||||||||
Goodwill at September 30, 2014 | $ | 96,368 | $ | 55,527 | $ | 50,187 | $ | 6,269 | $ | 16,540 | $ | 18,307 | $ | 243,198 | ||||||||||||||
EARNINGS_PER_SHARE_Tables
EARNINGS PER SHARE (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Schedule of Earnings Per Share, Basic and Diluted | ' | |||||||||||||||
The following is a calculation of basic and diluted earnings per share and weighted-average shares outstanding (in thousands, except per share amounts): | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Income from continuing operations—basic and diluted | $ | 9,493 | $ | 7,058 | $ | 21,096 | $ | 22,106 | ||||||||
Weighted-average shares outstanding—basic | 52,089 | 56,606 | 52,486 | 57,324 | ||||||||||||
Add shares issuable upon exercise of stock options | 2,017 | 2,899 | 2,059 | 3,173 | ||||||||||||
Weighted-average shares outstanding—diluted | 54,106 | 59,505 | 54,545 | 60,497 | ||||||||||||
Basic earnings per share | $ | 0.18 | $ | 0.12 | $ | 0.4 | $ | 0.39 | ||||||||
Diluted earnings per share | $ | 0.18 | $ | 0.12 | $ | 0.39 | $ | 0.37 | ||||||||
ACQUISITIONS_Details
ACQUISITIONS (Details) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 1 Months Ended | ||||||||
Oct. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Oct. 31, 2014 | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | OilCareers [Member] | OilCareers [Member] | onTargetJobs and The IT Job Board [Member] | onTargetJobs [Member] | onTargetJobs [Member] | onTargetJobs [Member] | onTargetJobs [Member] | onTargetJobs [Member] | IT Job Board [Member] | IT Job Board [Member] | WorkDigital [Member] | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | GBP (£) | USD ($) | |||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Pro Forma Revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | $67,615,000 | $62,539,000 | $194,849,000 | $184,446,000 | ' | ' | ' | ' |
Cash consideration paid | ' | ' | ' | ' | ' | ' | -300,000 | 26,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to Acquire Businesses, Net of Cash Acquired | ' | ' | ' | 27,001,000 | 12,259,000 | ' | ' | ' | ' | ' | ' | ' | ' | 46,300,000 | 12,200,000 | 8,000,000 | ' |
Net assets acquired based on fair values: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | ' | 8,200,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Acquired Receivables, Fair Value | ' | ' | ' | ' | ' | ' | ' | 1,082,000 | 7,558,000 | ' | ' | ' | ' | 6,300,000 | 1,200,000 | ' | ' |
Acquired intangible assets | ' | ' | ' | ' | ' | ' | ' | 14,508,000 | 38,410,000 | ' | ' | ' | ' | ' | 10,800,000 | ' | ' |
Goodwill | ' | 243,198,000 | ' | 243,198,000 | ' | 230,190,000 | ' | 15,078,000 | 32,935,000 | ' | ' | ' | ' | 23,800,000 | 9,100,000 | ' | ' |
Fixed Assets | ' | ' | ' | ' | ' | ' | ' | 98,000 | 5,688,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Other Assets | ' | ' | ' | ' | ' | ' | ' | 196,000 | 1,195,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | ' | ' | ' | ' | ' | ' | ' | 30,962,000 | 93,986,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts payable and accrued expenses | ' | ' | ' | ' | ' | ' | ' | 567,000 | 9,577,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred Revenue | ' | ' | ' | ' | ' | ' | ' | 1,081,000 | 5,465,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred Income Taxes and Other Tax Liabilities, Noncurrent | ' | ' | ' | ' | ' | ' | ' | 2,916,000 | 7,160,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of contingent consideration | ' | ' | ' | ' | ' | ' | ' | ' | 4,474,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | ' | ' | ' | ' | ' | ' | ' | 4,564,000 | 26,676,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | ' | ' | ' | ' | ' | ' | ' | 26,398,000 | 67,310,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Increase (Decrease), Net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 54,000,000 | 15,000,000 | ' | ' |
Business Acquisition, Goodwill, Expected Tax Deductible Amount | ' | ' | ' | ' | ' | ' | ' | 1,200,000 | 3,900,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangibles | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 27,600,000 | ' | ' | ' |
Business Combination, Acquired Receivables, Gross Contractual Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,300,000 | 1,200,000 | ' | ' |
Business Acquisition, Cost of Acquired Entity, Cash Paid Plus Deferred Payments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,600,000 | 3,000,000 | ' |
Business Acquisition, Transaction Costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,200,000 | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,200,000 | ' | 28,500,000 | ' | ' | ' | ' | ' |
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | 2,600,000 | ' | ' | ' | ' | ' |
Amortization of intangible assets | ' | 3,798,000 | 2,208,000 | 12,552,000 | 5,617,000 | ' | ' | ' | ' | 1,000,000 | ' | 4,900,000 | ' | ' | ' | ' | ' |
Supplemental Deferred Purchase Price | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 |
Business Acquisition, Pro Forma Net Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | $9,493,000 | ' | $21,096,000 | ' | ' | ' | ' | ' |
Business Acquisition, Pro Forma Earnings Per Share, Basic | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.18 | $0.13 | $0.40 | $0.39 | ' | ' | ' | ' |
FAIR_VALUE_MEASUREMENTS_Detail
FAIR VALUE MEASUREMENTS (Details) | Sep. 30, 2014 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
discount rate used to fair value the expected payments | 2.00% |
FAIR_VALUE_MEASUREMENTS_Fair_V
FAIR VALUE MEASUREMENTS (Fair Value on a Recurring Basis) (Details) (Fair Value, Measurements, Recurring [Member], USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash and Cash Equivalents, Fair Value Disclosure | $361 | $15,610 |
Fair value of contingent consideration | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value of contingent consideration | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value of contingent consideration | 9,040 | 9,793 |
Estimate of Fair Value Measurement [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash and Cash Equivalents, Fair Value Disclosure | 361 | 15,610 |
Fair value of contingent consideration | 9,040 | 9,793 |
Money Market Funds [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 |
Money Market Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash and Cash Equivalents, Fair Value Disclosure | $0 | $0 |
FAIR_VALUE_MEASUREMENTS_Unobse
FAIR VALUE MEASUREMENTS (Unobservable Level 3 Inputs) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | ' |
Balance at beginning period | $9,195 | $9,852 | $9,793 | $9,756 |
Business Combination, Contingent Consideration, Liability | 0 | 4,738 | 0 | 4,738 |
Cash payments | 0 | ' | -824 | 0 |
Change in estimates included in earnings | 44 | 50 | 134 | 146 |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Change due to foreign exchange rate changes | -199 | 0 | -63 | 0 |
Balance at end of period | $9,040 | $14,640 | $9,040 | $14,640 |
ACQUIRED_INTANGIBLE_ASSETS_NET2
ACQUIRED INTANGIBLE ASSETS, NET (Acquired Intangible Assets) (Details) (USD $) | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
Trademarks [Member] | Trademarks [Member] | Trademarks [Member] | Technology [Member] | Technology [Member] | Trademarks and Brand Names- Other [Member] | Trademarks and Brand Names- Other [Member] | Customer Lists [Member] | Customer Lists [Member] | Candidate Database [Member] | Candidate Database [Member] | Order Backlog [Member] | Order Backlog [Member] | Slashdot Media [Member] | OilCareers [Member] | OilCareers [Member] | OilCareers [Member] | OilCareers [Member] | onTargetJobs and The IT Job Board [Member] | onTargetJobs and The IT Job Board [Member] | onTargetJobs and The IT Job Board [Member] | onTargetJobs and The IT Job Board [Member] | onTargetJobs and The IT Job Board [Member] | |||
Technology [Member] | Trademarks and Brand Names- Other [Member] | Customer Lists [Member] | Candidate Database [Member] | Technology [Member] | Trademarks and Brand Names- Other [Member] | Customer Lists [Member] | Candidate Database [Member] | Order Backlog [Member] | |||||||||||||||||
Schedule of Acquired Finite-Lived and Indefinite-lived Intangible Assets by Major Class [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquired Finite Lived Intangible Assets, Amount | ' | $0 | ' | ' | ' | $23,654 | $21,000 | $23,837 | $19,115 | $54,932 | $45,213 | $40,198 | $30,341 | $2,718 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impairment of Intangible Assets, Finite-lived | ' | -7,240 | ' | ' | ' | ' | -1,374 | ' | -1,929 | ' | -3,281 | ' | -656 | ' | 0 | 7,200 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-lived Intangible Assets Acquired | ' | 1,812 | ' | ' | ' | 3,943 | 6,053 | 12,033 | 12,791 | 21,554 | 15,337 | 9,406 | 9,912 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquired Intangible Assets, Total Cost | 184,339 | 154,669 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquired Intangible Assets, Net | 198,847 | 193,079 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Net [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Period Increase (Decrease) | 14,508 | 38,410 | ' | ' | ' | 166 | 4,028 | 1,123 | 6,651 | 9,403 | 14,500 | 3,816 | 10,513 | 0 | 2,718 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated Amortization, Finite-lived | -110,932 | -99,883 | ' | ' | ' | -19,757 | -17,566 | -12,231 | -10,541 | -41,363 | -40,255 | -34,863 | -30,615 | -2,718 | -906 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign Currency Translation Adjustment, Finite-lived | -1,979 | -1,051 | ' | ' | ' | -120 | -35 | -696 | -505 | -1,418 | -840 | 255 | 329 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquired Intangible Assets, Finite-lived | 46,936 | ' | ' | ' | ' | 23,820 | 25,028 | 24,960 | 25,766 | 64,335 | 59,713 | 44,014 | 40,854 | 2,718 | 2,718 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted Average Amortization Period | ' | ' | ' | ' | ' | '3 years 6 months | '3 years 6 months | '6 years 1 month 6 days | '6 years 2 months 12 days | '5 years 6 months | '5 years 3 months 18 days | '2 years 8 months 12 days | '2 years 9 months 18 days | '6 months | '6 months | ' | '9 months 18 days | '5 years | '7 years | '2 years | '3 years | '6 years 10 months 24 days | '8 years | '2 years 9 months 18 days | '6 months |
Indefinite-Lived Intangible Assets [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquired intangible assets, Indefinite-lived | ' | ' | 39,000 | 39,000 | 39,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-lived and Indefinite-lived Intangible Assets Acquired | $85,936 | $84,905 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
ACQUIRED_INTANGIBLE_ASSETS_NET3
ACQUIRED INTANGIBLE ASSETS, NET (Estimated Future Amortization Expense) (Details) (USD $) | Sep. 30, 2014 |
In Thousands, unless otherwise specified | |
Intangible Assets, Net (Excluding Goodwill) [Abstract] | ' |
October 1, 2014 through December 31, 2014 | $3,780 |
2015 | 13,825 |
2016 | 8,259 |
2017 | 5,101 |
2018 | 4,545 |
2019 and thereafter | 11,426 |
Finite-Lived Intangible Assets, Net | $46,936 |
INDEBTEDNESS_Details
INDEBTEDNESS (Details) (USD $) | 12 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | |
Maximum [Member] | Credit Agreement [Member] | Credit Agreement [Member] | Credit Agreement [Member] | Credit Agreement [Member] | Credit Agreement [Member] | Credit Agreement [Member] | Credit Agreement [Member] | Credit Agreement [Member] | Previous Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Term Facility [Member] | Term Facility [Member] | |||
subsidiaries | LIBOR [Member] | LIBOR [Member] | LIBOR [Member] | LIBOR [Member] | Base Rate [Member] | Base Rate [Member] | Credit Agreement [Member] | Credit Agreement [Member] | Credit Agreement [Member] | Credit Agreement [Member] | ||||||||
Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | |||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Face amount on debt | ' | ' | ' | ' | $65,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest margin | ' | ' | ' | ' | ' | 2.00% | 2.00% | 1.75% | 2.50% | 0.75% | 1.50% | ' | ' | ' | ' | ' | ' | ' |
Ratio of Indebtedness to Net Capital, Pro forma basis | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
restricted payments under the Credit Agreement | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of wholly-owned subsidiaries | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt issuance costs | ' | ' | ' | 872,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Write-off of deferred financing costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 878,000 | ' | ' | ' | ' | ' | ' |
Maximum available to be borrowed under revolving facility | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 135,000,000 | 131,000,000 | 200,000,000 | ' | 50,000,000 | ' |
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | ' | 625,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Two | ' | 2,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Three | ' | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Four | ' | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Five | ' | 100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt | ' | $113,125,000 | ' | $119,000,000 | $113,125,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $65,000,000 | $69,000,000 | $48,125,000 | $50,000,000 |
INDEBTEDNESS_Schedule_of_Credi
INDEBTEDNESS (Schedule of Credit Agreement) (Details) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 |
Debt Instrument [Line Items] | ' | ' |
Total borrowed | 113,125 | ' |
Credit Agreement [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total borrowed | 113,125 | 119,000 |
Term Facility [Member] | Credit Agreement [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total borrowed | 48,125 | 50,000 |
Maximum available to be borrowed under revolving facility | 50,000 | ' |
Revolving Credit Facility [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Maximum available to be borrowed under revolving facility | 135,000 | 131,000 |
Revolving Credit Facility [Member] | Credit Agreement [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total borrowed | 65,000 | 69,000 |
Maximum available to be borrowed under revolving facility | 200,000 | ' |
LIBOR [Member] | Credit Agreement [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Interest margin | 2.00% | 2.00% |
Actual interest rates | 2.19% | 2.19% |
COMMITMENTS_AND_CONTINGENCIES_1
COMMITMENTS AND CONTINGENCIES (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | ' | ' | ' | ' |
October 1, 2014 through December 31, 2014 | $1,311,000 | ' | $1,311,000 | ' |
2015 | 3,277,000 | ' | 3,277,000 | ' |
2016 | 2,836,000 | ' | 2,836,000 | ' |
2017 | 2,832,000 | ' | 2,832,000 | ' |
2018 | 2,520,000 | ' | 2,520,000 | ' |
2019 and thereafter | 9,208,000 | ' | 9,208,000 | ' |
Total minimum payments | 21,984,000 | ' | 21,984,000 | ' |
Operating Leases, Rent Expense, Net [Abstract] | ' | ' | ' | ' |
Rent expense | $1,100,000 | $943,000 | $3,000,000 | $2,400,000 |
EQUITY_TRANSACTIONS_Details
EQUITY TRANSACTIONS (Details) (USD $) | 3 Months Ended | 3 Months Ended | 0 Months Ended | 3 Months Ended | |
Sep. 30, 2014 | Dec. 31, 2013 | Mar. 31, 2012 | Jan. 25, 2013 | Dec. 31, 2013 | |
Stock Repurchase Plan II [Member] | Stock Repurchase Plan III [Domain] | Stock Repurchase Plan IV [Domain] | |||
Stock Repurchase Plan [Abstract] | ' | ' | ' | ' | ' |
Stock repurchase, amount | ' | ' | $65,000,000 | $50,000,000 | $50,000,000 |
Number of shares repurchased, value | 1,056,000 | ' | ' | ' | ' |
Average cost per share | $8.22 | ' | ' | ' | ' |
Total costs of shares | 8,677,152 | ' | ' | ' | ' |
Share repurchases included in accounts payable and accrued expenses | 505,000 | 553,000 | ' | ' | ' |
Remaining authorized to be repurchased | $21,987,000 | ' | ' | ' | ' |
ACCUMULATED_OTHER_COMPREHENSIV2
ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Jun. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Tax | ' | ' | $0 | ' | ' | $0 |
Foreign currency translation adjustment | -9,577 | ' | ' | -9,577 | ' | -6,117 |
Unrealized gains on investments, net of tax of $0 and $0 | 0 | ' | ' | 0 | ' | 3 |
Total accumulated other comprehensive loss, net | -9,577 | -9,938 | -5,818 | -9,577 | -9,938 | -6,114 |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ' | ' | ' | ' | ' | ' |
Beginning Balance | -5,818 | -14,351 | -6,114 | -6,114 | -9,294 | -9,294 |
Other comprehensive loss before reclassifications | -3,759 | 4,413 | ' | -3,463 | -644 | ' |
Amounts reclassified from accumulated other comprehensive loss | 0 | 0 | ' | 0 | 0 | ' |
Total other comprehensive income (loss) | -3,759 | 4,413 | ' | -3,463 | -644 | ' |
Ending Balance | -9,577 | -9,938 | -5,818 | -9,577 | -9,938 | -6,114 |
Foreign Currency Translation Adjustment [Member] | ' | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | ' | ' |
Total accumulated other comprehensive loss, net | -9,580 | -9,938 | ' | -9,580 | -9,938 | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ' | ' | ' | ' | ' | ' |
Beginning Balance | -5,821 | -14,351 | -6,117 | -6,117 | -9,303 | -9,303 |
Other comprehensive loss before reclassifications | -3,759 | 4,413 | ' | -3,463 | -635 | ' |
Amounts reclassified from accumulated other comprehensive loss | 0 | 0 | ' | 0 | 0 | ' |
Total other comprehensive income (loss) | -3,759 | 4,413 | ' | -3,463 | -635 | ' |
Ending Balance | -9,580 | -9,938 | ' | -9,580 | -9,938 | ' |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | ' | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | ' | ' |
Total accumulated other comprehensive loss, net | 3 | 0 | ' | 3 | 0 | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ' | ' | ' | ' | ' | ' |
Beginning Balance | 3 | 0 | 3 | 3 | 9 | 9 |
Other comprehensive loss before reclassifications | 0 | 0 | ' | 0 | -9 | ' |
Amounts reclassified from accumulated other comprehensive loss | 0 | 0 | ' | 0 | 0 | ' |
Total other comprehensive income (loss) | 0 | 0 | ' | 0 | -9 | ' |
Ending Balance | $3 | $0 | ' | $3 | $0 | ' |
STOCK_BASED_COMPENSATION_Detai
STOCK BASED COMPENSATION (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 5,921,943 | 8,203,933 | 5,921,943 | 8,203,933 | 7,044,103 | 7,536,601 | 8,595,577 | 8,780,400 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $5.94 | $5.58 | $5.94 | $5.58 | $5.79 | $5.53 | $5.24 | $4.67 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $16,629,928 | $27,187,484 | $16,629,928 | $27,187,484 | $16,371,140 | $17,493,907 | $36,183,544 | $41,236,574 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | 3,000 | 235,000 | 617,000 | 968,000 | ' | ' | ' | ' |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $7.69 | $9.29 | $7.20 | $9.71 | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Total Intrinsic Value | 0 | 0 | 0 | 0 | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | -1,014,414 | -522,394 | -1,913,943 | -1,382,403 | ' | ' | ' | ' |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $4.47 | $0.93 | $4.17 | $2.28 | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | 4,015,153 | 4,188,424 | 7,069,999 | 9,848,965 | ' | ' | ' | ' |
Forfeited, Options | -110,746 | -104,250 | -317,715 | -162,064 | ' | ' | ' | ' |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price | $9.75 | $9.13 | $9.46 | $8.95 | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period, Total Intrinsic Value | 0 | 0 | 0 | 0 | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 4,675,592 | 6,475,360 | 4,675,592 | 6,475,360 | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $5.29 | $4.57 | $5.29 | $4.57 | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | 15,958,433 | 26,834,448 | 15,958,433 | 26,834,448 | ' | ' | ' | ' |
Stock based compensation expense | 1,700,000 | 2,100,000 | 5,900,000 | 6,300,000 | ' | ' | ' | ' |
Unrecognized compensation expense | $15,800,000 | ' | $15,800,000 | ' | ' | ' | ' | ' |
Weighted-average period | ' | ' | '1 year 8 months 12 days | ' | ' | ' | ' | ' |
STOCK_BASED_COMPENSATION_Statu
STOCK BASED COMPENSATION (Status of Restricted Stock) (Details) (Restricted Stock [Member], USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Restricted Stock [Member] | ' | ' | ' | ' |
Nonvested, Number of Shares [Roll Forward] | ' | ' | ' | ' |
Non-vested at beginning of the period, Shares | 1,891,131 | 1,733,375 | 1,560,375 | 1,305,369 |
Granted- Restricted Stock, Shares | 78,000 | 117,000 | 1,013,500 | 989,500 |
Forfeited during the period, Shares | -114,625 | -74,875 | -208,825 | -170,563 |
Vested during the period, Shares | -56,000 | -25,125 | -566,544 | -373,931 |
Non-vested at end of period, Shares | 1,798,506 | 1,750,375 | 1,798,506 | 1,750,375 |
Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | ' | ' | ' | ' |
Non-vested at beginning of the period, Weighted Average Grant Date Fair Value | $8.48 | $9.91 | $9.81 | $10.09 |
Granted- Restricted Stock, Weighted Average Grant Date Fair Value | $7.69 | $9.39 | $7.21 | $9.80 |
Forfeited during the period, Weighted Average Grant Date Fair Value | $8.21 | $10.03 | $8.64 | $10.20 |
Vested during the period, Weighted Average Grant Date Fair Value | $9.43 | $10.07 | $9.96 | $10.30 |
Non-vested at end of period, Weighted Average Grant Date Fair Value | $8.43 | $9.87 | $8.43 | $9.87 |
STOCK_BASED_COMPENSATION_Fair_
STOCK BASED COMPENSATION (Fair Value Assumptions) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' | ' | ' | ' |
The weighted average fair value of options granted | $2.57 | $3.39 | $2.60 | $3.54 | ' |
Dividend yield | 0.00% | 0.00% | 0.00% | 0.00% | ' |
Weighted average risk free interest rate | 1.71% | 1.40% | 1.56% | 0.98% | ' |
Weighted average expected volatility | 36.73% | 41.46% | 40.53% | 42.20% | ' |
Expected life | ' | ' | '4 years 7 months 5 days | ' | '4 years 7 months 5 days |
STOCK_BASED_COMPENSATION_Summa
STOCK BASED COMPENSATION (Summary of Status of Options) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Options, Outstanding [Roll Forward] | ' | ' | ' | ' |
Options outstanding at beginning of period, Options | 7,044,103 | 8,595,577 | 7,536,601 | 8,780,400 |
Granted, Options | 3,000 | 235,000 | 617,000 | 968,000 |
Exercised, Options | 1,014,414 | 522,394 | 1,913,943 | 1,382,403 |
Forfeited, Options | -110,746 | -104,250 | -317,715 | -162,064 |
Options outstanding at end of period, Options | 5,921,943 | 8,203,933 | 5,921,943 | 8,203,933 |
Exercisable at end of period, Options | 4,675,592 | 6,475,360 | 4,675,592 | 6,475,360 |
Weighted Average Exercise Price [Roll Forward] | ' | ' | ' | ' |
Options outstanding at beginning of period, Weighted Average Exercise Price | $5.79 | $5.24 | $5.53 | $4.67 |
Granted, Weighted Average Exercise Price | $7.69 | $9.29 | $7.20 | $9.71 |
Exercised, Weighted Average Exercise Price | $4.47 | $0.93 | $4.17 | $2.28 |
Forfeited, Weighted Average Exercise Price | $9.75 | $9.13 | $9.46 | $8.95 |
Options outstanding at end of period, Weighted Average Exercise Price | $5.94 | $5.58 | $5.94 | $5.58 |
Exercisable at end of period, Weighted Average Exercise Price | $5.29 | $4.57 | $5.29 | $4.57 |
Aggregate Instrinsic Value [Abstract] | ' | ' | ' | ' |
Options outstanding at beginning of period, Aggregate Intrinsic Value | $16,371,140 | $36,183,544 | $17,493,907 | $41,236,574 |
Granted, Aggregate Intrinsic Value | 0 | 0 | 0 | 0 |
Exercised, Aggregate Intrinsic Value | 4,015,153 | 4,188,424 | 7,069,999 | 9,848,965 |
Forfeited, Aggregate Intrinsic Value | 0 | 0 | 0 | 0 |
Options outstanding at end of period, Aggregate Intrinsic Value | 16,629,928 | 27,187,484 | 16,629,928 | 27,187,484 |
Exercisable at end of period, Aggregate Intrinsic Value | $15,958,433 | $26,834,448 | $15,958,433 | $26,834,448 |
STOCK_BASED_COMPENSATION_Summa1
STOCK BASED COMPENSATION (Summary of Options Outstanding) (Details) (USD $) | 9 Months Ended |
Sep. 30, 2014 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Number of Options Outstanding | 5,921,943 |
Weighted Average Remaining Contractual Life | '1 year 10 months 24 days |
Number of Exercisable Options | 4,675,592 |
$0.20 - $0.99 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price, Lower Limit | 0.2 |
Exercise Price, Upper Limit | 0.99 |
Number of Options Outstanding | 313,791 |
Weighted Average Remaining Contractual Life | '10 months 24 days |
Number of Exercisable Options | 313,791 |
$1.00 - $3.99 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price, Lower Limit | 1 |
Exercise Price, Upper Limit | 3.99 |
Number of Options Outstanding | 1,306,412 |
Weighted Average Remaining Contractual Life | '1 year 2 months 12 days |
Number of Exercisable Options | 1,306,412 |
$4.00 - $5.99 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price, Lower Limit | 4 |
Exercise Price, Upper Limit | 5.99 |
Number of Options Outstanding | 580,445 |
Weighted Average Remaining Contractual Life | '2 years 1 month 16 days |
Number of Exercisable Options | 580,445 |
$6.00 - $8.99 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price, Lower Limit | 6 |
Exercise Price, Upper Limit | 8.99 |
Number of Options Outstanding | 2,835,207 |
Weighted Average Remaining Contractual Life | '3 years 1 month 16 days |
Number of Exercisable Options | 2,012,294 |
$9.00 - $14.50 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price, Lower Limit | 9 |
Exercise Price, Upper Limit | 14.5 |
Number of Options Outstanding | 886,088 |
Weighted Average Remaining Contractual Life | '5 years 1 month 16 days |
Number of Exercisable Options | 462,650 |
STOCK_BASED_COMPENSATION_Stock
STOCK BASED COMPENSATION Stock Options Outstanding (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 5,921,943 | 8,203,933 | 5,921,943 | 8,203,933 | 7,044,103 | 7,536,601 | 8,595,577 | 8,780,400 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $5.94 | $5.58 | $5.94 | $5.58 | $5.79 | $5.53 | $5.24 | $4.67 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $16,629,928 | $27,187,484 | $16,629,928 | $27,187,484 | $16,371,140 | $17,493,907 | $36,183,544 | $41,236,574 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | 3,000 | 235,000 | 617,000 | 968,000 | ' | ' | ' | ' |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $7.69 | $9.29 | $7.20 | $9.71 | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Total Intrinsic Value | 0 | 0 | 0 | 0 | ' | ' | ' | ' |
Exercised, Options | 1,014,414 | 522,394 | 1,913,943 | 1,382,403 | ' | ' | ' | ' |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $4.47 | $0.93 | $4.17 | $2.28 | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | 4,015,153 | 4,188,424 | 7,069,999 | 9,848,965 | ' | ' | ' | ' |
Forfeited, Options | -110,746 | -104,250 | -317,715 | -162,064 | ' | ' | ' | ' |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price | $9.75 | $9.13 | $9.46 | $8.95 | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period, Total Intrinsic Value | 0 | 0 | 0 | 0 | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 4,675,592 | 6,475,360 | 4,675,592 | 6,475,360 | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $5.29 | $4.57 | $5.29 | $4.57 | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $15,958,433 | $26,834,448 | $15,958,433 | $26,834,448 | ' | ' | ' | ' |
SEGMENT_INFORMATION_Details
SEGMENT INFORMATION (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
segments | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Number of Reportable Segments | ' | ' | 5 | ' | ' |
Revenues | $67,615 | $52,616 | $194,849 | $155,064 | ' |
Depreciation | 2,930 | 2,011 | 8,647 | 5,377 | ' |
Amortization of intangible assets | 3,798 | 2,208 | 12,552 | 5,617 | ' |
Operating income (loss) | 13,432 | 11,516 | 34,296 | 35,672 | ' |
Interest expense | -927 | -378 | -2,875 | -1,097 | ' |
Other income (expense) | 8 | 5 | -129 | 261 | ' |
Income before income taxes | 12,513 | 11,143 | 31,292 | 34,836 | ' |
Capital expenditures | 2,457 | 2,274 | 6,784 | 8,315 | ' |
Assets | 426,260 | ' | 426,260 | ' | 420,641 |
United States [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 47,603 | 42,457 | 139,446 | 125,297 | ' |
Non- United States [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 20,012 | 10,159 | 55,403 | 29,767 | ' |
Tech & Clearance [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 34,783 | 33,610 | 101,268 | 97,988 | ' |
Depreciation | 1,581 | 1,422 | 4,715 | 3,696 | ' |
Amortization of intangible assets | 973 | 760 | 2,917 | 760 | ' |
Operating income (loss) | 13,065 | 15,258 | 37,981 | 46,018 | ' |
Capital expenditures | 1,923 | 1,787 | 4,729 | 6,207 | ' |
Assets | 177,892 | ' | 177,892 | ' | 180,366 |
Finance Segment [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 9,449 | 8,556 | 27,493 | 25,891 | ' |
Depreciation | 152 | 124 | 441 | 395 | ' |
Amortization of intangible assets | 19 | 19 | 57 | 406 | ' |
Other income (expense) | 1,823 | 1,169 | 5,090 | 4,794 | ' |
Capital expenditures | 50 | 129 | 542 | 235 | ' |
Assets | 77,308 | ' | 77,308 | ' | 89,213 |
Energy [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 8,043 | 6,157 | 22,465 | 17,529 | ' |
Depreciation | 47 | 36 | 130 | 94 | ' |
Amortization of intangible assets | 1,605 | 775 | 4,170 | 2,325 | ' |
Operating income (loss) | 2,061 | 1,676 | 4,626 | 4,601 | ' |
Capital expenditures | 31 | 91 | 128 | 390 | ' |
Assets | 82,887 | ' | 82,887 | ' | 52,374 |
Healthcare Segment [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 6,921 | 634 | 19,995 | 1,831 | ' |
Depreciation | 742 | 68 | 2,184 | 186 | ' |
Amortization of intangible assets | 464 | 0 | 3,201 | 67 | ' |
Operating income (loss) | -766 | -327 | -4,000 | -1,065 | ' |
Capital expenditures | 432 | 139 | 1,138 | 311 | ' |
Assets | 22,032 | ' | 22,032 | ' | 28,679 |
Hospitality Segment [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 3,668 | 0 | 10,050 | 0 | ' |
Depreciation | 76 | 0 | 197 | 0 | ' |
Amortization of intangible assets | 575 | 0 | 1,722 | 0 | ' |
Operating income (loss) | 801 | 0 | 1,578 | 0 | ' |
Capital expenditures | 2 | 0 | 20 | 0 | ' |
Assets | 34,919 | ' | 34,919 | ' | 38,600 |
Corporate & Other Segment [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 4,751 | 3,659 | 13,578 | 11,825 | ' |
Depreciation | 332 | 361 | 980 | 1,006 | ' |
Amortization of intangible assets | 162 | 654 | 485 | 2,059 | ' |
Operating income (loss) | -3,552 | -6,260 | -10,979 | -18,676 | ' |
Capital expenditures | 19 | 128 | 227 | 1,172 | ' |
Assets | $31,222 | ' | $31,222 | ' | $31,409 |
SEGMENT_INFORMATION_Carrying_A
SEGMENT INFORMATION (Carrying Amount of Goodwill) (Details) (USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 |
Goodwill [Roll Forward] | ' |
Goodwill, beginning balance | $230,190 |
Goodwill, Acquired During Period | 15,078 |
Foreign currency translation adjustment | -2,070 |
Goodwill, ending balance | 243,198 |
Tech & Clearance [Member] | ' |
Goodwill [Roll Forward] | ' |
Goodwill, beginning balance | 96,519 |
Goodwill, Acquired During Period | 0 |
Foreign currency translation adjustment | -151 |
Goodwill, ending balance | 96,368 |
Finance [Member] | ' |
Goodwill [Roll Forward] | ' |
Goodwill, beginning balance | 56,254 |
Goodwill, Acquired During Period | 0 |
Foreign currency translation adjustment | -727 |
Goodwill, ending balance | 55,527 |
Energy [Member] | ' |
Goodwill [Roll Forward] | ' |
Goodwill, beginning balance | 35,104 |
Goodwill, Acquired During Period | 15,078 |
Foreign currency translation adjustment | 5 |
Goodwill, ending balance | 50,187 |
Healthcare Segment [Member] | ' |
Goodwill [Roll Forward] | ' |
Goodwill, beginning balance | 6,269 |
Goodwill, Acquired During Period | 0 |
Foreign currency translation adjustment | 0 |
Goodwill, ending balance | 6,269 |
Hospitality Segment [Member] | ' |
Goodwill [Roll Forward] | ' |
Goodwill, beginning balance | 17,456 |
Goodwill, Acquired During Period | 0 |
Foreign currency translation adjustment | -916 |
Goodwill, ending balance | 16,540 |
Corporate & Other Segment [Member] | ' |
Goodwill [Roll Forward] | ' |
Goodwill, beginning balance | 18,588 |
Goodwill, Acquired During Period | 0 |
Foreign currency translation adjustment | -281 |
Goodwill, ending balance | $18,307 |
EARNINGS_PER_SHARE_Details
EARNINGS PER SHARE (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Earnings Per Share [Abstract] | ' | ' | ' | ' |
Options to purchase shares | 2,500,000 | 3,000,000 | 2,900,000 | 2,300,000 |
Income from continuing operations- basic and diluted | $9,493 | $7,058 | $21,096 | $22,106 |
Weighted average shares outstanding-basic | 52,089,000 | 56,606,000 | 52,486,000 | 57,324,000 |
Shares issuable upon exercise of stock options | 2,017,000 | 2,899,000 | 2,059,000 | 3,173,000 |
Weighted average shares outstanding-diluted | 54,106,000 | 59,505,000 | 54,545,000 | 60,497,000 |
Basic earnings per share (in dollars per share) | $0.18 | $0.12 | $0.40 | $0.39 |
Diluted earnings per share (in dollars per share) | $0.18 | $0.12 | $0.39 | $0.37 |